A new Economic Plan for Nottingham has been launched with the ambition of creating 20,000 jobs in the city by 2030.
Nottingham City Council have worked with partners across the city to create the Economic Plan with the vision to “deliver a vibrant, sustainable, and investment friendly Nottingham that promotes inclusion, secures resilience and
Nick Ebbs
unlocks prosperity for our residents and businesses.”
The Nottingham Growth Board, which is a partnership of some of Nottingham’s key businesses, educational institutions, and public sector organisations, will oversee the plan.
The Growth Board has identified areas for improvement in Nottingham, including the city having above average unemployment, low levels of graduate retention and lower than average educational attainment, which are all factors that limit the success of the local economy.
It says the city needs to look at ways to support people to gain skills and remain in meaningful employment as well seeking to improve graduate retention, securing regeneration opportunities, greener transport, nurturing start-up companies and building on Nottingham’s sector strengths.
The support will driven across four themes: people and skills; enterprise and investment; infrastructure and connectivity; and liveability, experience and regeneration.
As well as creating 12,000 jobs over the next five-and-a-half years, the new Economic Plan hopes to create an additional £1bn of gross value for Nottingham and attract the next £4bn of regenerative investment in the city.
Ethan Radford, deputy leader and executive member for skills, growth and economic development, said: “The launch of this plan comes at a really important time for the city, which already has many success stories. We have many successful and global businesses based here, but despite this success we know there is more we can all do to improve the prosperity of the city.
“The new 10-year strategy has been created based on significant research, data analysis, stakeholder engagement and expert advice from the Nottingham Growth Board. It aims to tackle the issues impacting our economy now and in the longer term.
“We held a consultation with the public, partners and businesses of the city earlier this year and took on their feedback to help us create this final version of the Economic Plan. We now need to work with these partners and business to deliver this plan for Nottingham’s economy, and for our residents and businesses that live here now or who will live here in the future.”
Nick Ebbs, chair of the Nottingham Growth Board, said: “Nottingham is a great city. Two world leading universities, enviable cultural assets and high growth businesses in life sciences, digital and creative industries. But there is also another story. A story of deprivation, low productivity, economic inactivity and limited opportunity.
“As a city we need to pull together to build on what is going well and to sort out what is failing. The city’s new Economic Plan sets out a roadmap to a more economically successful, sustainable and inclusive future. It can’t fix everything but it can make a significant contribution.
“The launch of the new plan is a positive step and I look forward to working with all partners across the city to deliver our shared ambitions.”