New Anglia ES Executive Summary

NORFOLK AND SUFFOLK ECONOMIC STRATEGY A STRATEGY FOR GROWTH AND OPPORTUNITY EXECUTIVE SUMMARY

OUR POTENTIAL 66% 88,000 OF THE GROW OUR ECONOMY BY POPULATION NET NEW JOBS BY 2036 £17.5 WITH NVQ3+ BILLION BY 2036 IN REAL TERMS BY 2036 140,000 £39GVA PER HOUR OF NEW BY 2036 HOMES 30,000 BY 2036 NEW SUCCESSFUL BUSINESSES BY 2036 INCREASED A HIGHER PROPORTION MEDIAN2 EXECUTIVE SUMMARY OF PEOPLE ENGAGED IN THE WAGES BY LABOUR MARKET THAN ACROSS £200 MORE PER THE UK BY 2036 WEEK BY 2036

75 91 67 97.2MW 573.3MW 402MW 88 OUR PLACE KEY 316.8MW • Hunstanton • Sher•ingham Clean Energy Cluster Wells-next- •• Cromer Finance & Insurance Cluster Digital Cluster the-Sea A140 Bacton Gas Life Science, Advanced Terminal Food Tech & Biotech Cluster To Lincolnshire, A148 • 1800MW Food Enterprise Zone & the North • North Walsham 120 University Kings Fakenham TBC Enterprise Zone A17 Oil & Gas Rig Lynn A149 Norwich 1800MW Wind Farm Gas Terminal A47 A47 International Airport Worldwide destinations and Nuclear Power Station Airport Marham Norwich A47 Great 172 120 Shipping Port Yarmouth 1200MW mar1k8et0s04M5 mWinu The National Stud A11 RAF BasePeterborough Downham • Market Norwich Ijmuiden Lowestoft A10 to London Amsterdam To the Lakenheath • Thetford Diss 90 minutes tes away Midlands Mildenhall • Eye Airfield Southwold Ely A12 Europe’s All A140 Energy Coast A14 A11 Sizewell 102 A14 • Bury St Edmunds 800MW Cambridge • Newmarket Stowmarket • TBC A1307 • Haverhill TBC 714MW Aldeburgh 800MW The M11 Sudbury Ipswich Woodbridge Hook Hadleigh A14A1 Felixstowe 504MW 336MW Rotterdam Netherlands Harwich • UK’s biggest container 196 port, handling 40% Stansted A12 of all trade M25 Ipswich to London 48 Zeebrugge Antwerpen 60 minutes 172.8MW Brugge London 175 Lille 630MW M25 Calais BEeXlgEiuCmUTIVE SUMMARY 3 France

4 EXECUTIVE SUMMARY

FOREWORD We are determined that growth will be inclusive, THE STRATEGY benefiting all our people. We are looking ahead to theOur economy Government’s Industrial Strategy, working together Our strategy looks ahead to 2036, but focusescontributes £35bn to as business leaders, local authorities, the voluntary on the actions we need to take over the nextUK plc and investment and community sector, universities and colleges to four years to help secure long term success.here delivers growth. drive future success in a place where businesses and It is a dynamic and living blueprint to guideSince 2010 our residents can thrive and succeed. We are exploring the work and investment of many partners.economy has grown by new models of funding and financing the infrastructure Together we have:9%, faster than many we need, because the evidence shows we can deliver Examined the evidence, making sure we“powerhouse” areas. Ours is returns and growth. understand our economy in detail and how ita diverse economy, but with globally We are confident in our ambitions because they are works and is changing.competitive clusters that drive our success. built on the success of our original 2014 Strategic Set challenging but achievable ambitions,We are well connected to London, Cambridge Economic Plan. This has delivered more jobs, new which are based on the evidence andand wider international markets, businesses and housing. The numbers tell the describe the place and economy wewith higher than average levels of economic story. Since 2014, 43,600 more jobs and 5,710 want Norfolk and Suffolk to be.activity. We are ambitious for future growth new businesses have been created and 18,850 Agreed the themes under which we areand we will work with Government and private new homes built. Over £350m of Government going to prioritise action and investment.investors to deliver it. funding has been secured and will be invested in the Agreed the priority places where region by 2021 in a wide range of projects to improve investment and action is most likelyWe have an excellent understanding of our economy skills, drive innovation, support growing businesses to deliver a strong return.and the opportunities ahead. New technologies, and enhance transport and other infrastructure. Over Identified Economic Indicatorstechniques and collaborations across sectors will £260m of private sector funding has also been and set targets to measurefurther drive growth, raising productivity and moving unlocked, outstripping our original commitment of success and drive delivery.firms into new products and markets. Our strategy £199m by 2021.is to support growth across all sectors, focusing on Collaboration and hard work from all partners has “Our Economic Strategycreating high value, highly skilled jobs and industries, been at the heart of this success. We have achieved reflects the evolving needswhilst also providing the technical skills, access to much, but there is more to do. Our Economic Strategyinnovative techniques and support that all businesses reflects the evolving needs and opportunities of our and opportunities of ourand the wider workforce need to succeed. growing local economy and how it responds and growing local economy and how it succeeds in a fast changing world.Norfolk and Suffolk has a number of key centres of responds and succeeds ineconomic activity, with fast growing urban centres, DOUG FIELD a fast changing world.”historic market towns and a large rural economy. Our Chairman of New Anglia Local Enterprise Partnershipnatural landscape and our rich cultural heritage give EXECUTIVE SUMMARYNorfolk and Suffolk its distinctive character. We areforward looking and our economy is well positionedto capitalise on the opportunities created by furtheradvances in technology and digital connectivity. 5

OUR SECTORSENERGY ADVANCED TRANSPORT, FREIGHTGlobal, all-energy expertise AGRICULTURE, AND LOGISTICSwith 50 years’ expertise in the FOOD AND DRINK The UK’s largest container port atoil and gas sector, nuclear new Home to an advanced and Felixstowe on the premier EU/ Asiabuild, and the world’s largest nationally significant farming route and the UK’s largest exporterwindfarms in development off sector, alongside globally of grain at the port of Ipswich.our coastline with a globally renowed food and drink CONSTRUCTION ANDcompetitive renewables supply companies, and a world- DEVELOPMENTchain and support industry. leading research base centred at Norfolk and Suffolk have a largeLIFE SCIENCES Norwich Research Park (NRP). and diverse construction andAND BIOTECH FINANCIAL SERVICES development sector, Europe’sInternational expertise in the AND INSURANCE largest Urban extension infields of food, health and the One of the largest financial Broadland and emergingmicrobiome, an advanced cluster services and insurance clusters specialisation in Passivhausof animal health and emerging pharmaceutical in Europe, with growing start and sustainable design.manufacture on the Cambridge Norwich Corridor. up financial service businesses ADVANCEDICT, TECH AND building on a heritage going MANUFACTURINGDIGITAL CREATIVE back 200 years. AND ENGINEERINGCentred on Norwich’s fast-growing VISITOR ECONOMY – Including nationaldigital creative hub and TOURISM, HERITAGE expertise in automotive,the world-leading centre of AND CULTURE civil aviation, compositesinnovation in communications A varied and rich tourist offer, from and pharmaceuticals.technology at Adastral Park and Innovation coast and countryside to postcardMartlesham near Ipswich. We are at the forefront market towns, underpinned by a “Many of our growth opportunitiesof digital innovation, with strengths in telecoms, cyber dynamic and pioneering cultural involve collaboration andsecurity, quantum technology, Internet of Things and sector boasting internationally partnership between firmsUX design, with business coming celebrated brands and festivals. in different sectors.”together under the Tech East brand.6 EXECUTIVE SUMMARY

AMBITIONS, PRIORITYPLACES AND THEMESAMBITIONS OUR PRIORITY PLACES are the areas OUR PRIORITY THEMES are those economy-Based on the evidence we have agreed a set of where the evidence shows there are significant wide opportunities where the evidence shows thatambitions. We want Norfolk and Suffolk to be: opportunities and commitment for continued growth: investment and action will have the greatest impact • Ipswich and the surrounding area. on our ambitions and how we will deliver growth in all• The place where high growth • N orwich and the Greater Norwich area. places across Norfolk and Suffolk. businesses with aspirations • T he Norfolk and Suffolk Energy Coast, including choose to be. “ W e have agreed to focus Bacton, Great Yarmouth, Lowestoft and Sizewell, action and investment• An international facing economy with assets on and offshore. on a clear set of priority with high value exports. • T he Cambridge-Norwich corridor growth – places and themes to achieve connecting two global centres of research our ambitions and targets.”• A high performing productive • The critical east-west growth corridors along the economy. A47 from Lowestoft and Great Yarmouth to King’s Lynn and the A14 from Felixstowe through Ipswich,• A well-connected place. Stowmarket, Bury St Edmunds, Newmarket and• An inclusive economy with a highly Haverhill to Cambridge. • King’s Lynn - and the A10 and rail corridor to skilled workforce. Cambridge.• A centre for the UK’s clean OUR DRIVING DRIVING energy sector. OFFER BUSINESS INCLUSION• A place with a clear, ambitious offer TO THE GROWTH AND SKILLS WORLD AND to the world. PRODUCTIVITYWe will deliver these ambitions through action and COLLABORATING COMPETITIVEinvestment in priority places and themes. These TO GROW CLUSTERS,have been chosen based on the evidence and the CLOSE TOengagement and expertise of all the partners involved GLOBALin creating and delivering this strategy. CENTRES EXECUTIVE SUMMARY 7

OUR OFFER • Use consistent place branding, with an DRIVING TO THE overarching offer, supported by our unique BUSINESS WORLD places, culture and diversity. GROWTH AND Improving and communicating a clear, • Work with Government to ensure that the unique PRODUCTIVITY ambitious offer to the world is central to all contribution of our energy sector is well our ambitions and targets and to attracting understood and supported. Our diverse economy is a real strength. Our the people, investors and businesses of work to support business will be driven by the future. Our economy makes a major • Build the right kind of housing and three goals – increasing investment, driving contribution to UK plc and global markets, commercial space where it is needed and productivity and helping our firms move into with internationally important strengths in integrate utility, road, rail and green infrastructure new markets and products. clean energy, ICT, biosciences and financial to build the communities and places people want industries. We have major exporters and to live. TOGETHER WE WILL: attract a net inflow of young people and • Re-galvanise our high-quality business families. We have a large visitor economy • Develop a year-round visitor offer by investing attracting 5 million people a year. in the strategic projects such as attractions, support offer to ensure it meets the changing heritage and cultural institutions that needs of businesses adapting to new ways of TOGETHER WE WILL: also will increase visitor spend. working and technology. This will include leadership • Work across all local authorities to integrate our development, and the ecosystem firms need to Ipswich Waterfront share knowledge and services across sectors. inward investment and business location offer, & The Forum, • Enable our SMEs to grow and increase exports campaigning at scale in new markets and working Norwich by focusing grant programmes and other support with national Government. on growth, innovation and productivity. • Attract the highly skilled people we need, • Lead a cross sector “trade global, supply local” through targeted campaigns at specific groups campaign, to open up supply chain opportunities working with sectors and clusters to show people for local businesses. the opportunities that are here. • Prioritise digital and physical infrastructure • Work together to make sure that investment projects to support businesses to develop and markets have the information they need to take provide the space that new and existing firms need the decision to invest in infrastructure of all kinds. to grow. • Improve digital connectivity, with a particular • Set up new schemes to help high growth focus on super-fast broadband in rural areas and businesses and make it easier to access advice reliable mobile phone coverage for those travelling and funding for commercial innovation and around the region. commercialising business and university R&D.8 EXECUTIVE SUMMARY

• Provide improved access to finance and assist DRIVING • Prioritise capital investment on provision that business capability in identifying skills deficits. INCLUSION will deliver the future skills our sectors and We will make it easier to access these services AND workforce need. We will take a commissioning through a new “front door” for investment funding SKILLS approach and be clear about what must be support. provided. We will use higher level apprenticeships Our people, whether in traditional careers, and skill deals to drive innovation.• Establish new centres of excellence to micro businesses, arts and culture or improve productivity and innovation supporting others in the community are • Prioritise leadership support for our providing new skills for business central to all our ambitions and goals. We entrepreneurs and those in new high growth leaders and employees. want to raise and support aspiration across businesses, through further accelerator support all ages. We have made good progress in and business mentorship. We will provide theA Growth Hub advisor raising skill levels, but we want to go further ecosystem that new entrepreneurs need toand Advanced and faster, particularly for those already in succeed.Manufacturing and work. We will help our young people set theirEngineering ambitions high and understand the exciting • Deliver the Youth Pledge for all our young local careers available to them. people, providing an integrated offer that shows and inspires them about the opportunities TOGETHER WE WILL: that exist and provide support into employment. • Develop sector skills plans to produce clear • Work with Government to establish an statements about the skills businesses need Institute of Technology that builds on our now and in the future, to influence providers, strengths and meets the increasing need for higher business investment and personal choices by new level technical skills in key areas such as energy, students and those already in the workforce. engineering and manufacturing. • Develop an integrated skills offer for businesses across Norfolk and Suffolk, to • Develop new approaches and remove barriers make it easier for them to navigate and access to get people back into work, especially for those the initiatives and providers that are available. We furthest from the job markets and provide support will focus particularly on long term development of for all into sustained employment. technical skills in our existing workforce. “Driving skills and high-quality employment is fundamental to our goals to create a more inclusive economy, with improving wage levels, living standards and attainment. ” EXECUTIVE SUMMARY 9

The competition we face does not come TOGETHER WE WILL: • Work between public and private sectors from within Norfolk and Suffolk. Many of • Work across sectors to explore innovative approaches to funding the opportunities we have come from our and finance, driving returns on investment in proximity to Cambridge and London as to help businesses infrastructure. We are committing to opening up well as global markets. The new markets collaborate on procurement and further empower businesses and investment opportunities we seek are increasingly common requirements for technical through a smoother planning system, linking national and global. know-how and access to new markets and housing, utilities and infrastructure provision and techniques across sectors that might once have flexible and integrated investment plans. COMPETITIVE been more distinct, such as telecoms, agricultural CLUSTERS and food technology and logistics. • Work with other regions on regional, national and CLOSE TO international opportunities, such as transport and GLOBAL new nuclear. CENTRES Each of our identified clusters has substantial further CLEAN ENERGY Within our business sectors, Norfolk growth potential and supports high value jobs. We Our East coast energy cluster is world class. It is the and Suffolk have a number of will support these clusters and their specialisations, only place in the UK where expertise and operations recognised national and global clusters working with each to ensure that the commercial in oil, gas, nuclear, renewables, solar and micro of businesses with excellent access opportunity they represent is fully developed and well generation exist in such close proximity. to national and global markets and to communicated to Government and investors. FINANCE AND INSURANCE London and Cambridge. Two clusters, concentrated in Ipswich and Evidence suggests businesses benefit from locating Norwich. Aviva, Marsh, Willis Towers Watson and10 EXECUTIVE SUMMARY in these clusters. AXA are global players in the insurance industry, who sit alongside a growing number of smaller TOGETHER WE WILL: fin-tech businesses. DIGITAL Develop a plan for each cluster that will: At Adastral Park, near Ipswich, we have a globally significant ICT cluster and one of the world’s leading • Encourage new companies and commercial Innovation Hubs in information technology, together investment. with a fast-growing digital cluster in Norwich. LIFE SCIENCES AND BIOTECH • Establish global and national links. At Norwich Research Park, home to the Earlham • Maximise local supply chain benefits. Institute, John Innes Centre and the Quadram • Market the commercial opportunity. Institute and in Lowestoft at The Centre for • Develop the ecosystem that enables the cluster Environment, Fisheries and Aquaculture Science (CEFAS), we have two major UK life science centres. to thrive.

ECONOMIC INCLUSIVE GROWTH: EMPLOYMENT RATE INCLUSIVE GROWTH: SKILLSINDICATORS TARGET: CONSISTENTLY HIGHER THAN TARGET: INCREASE NVQ3+ BY 1.4%To measure our success we will use eight NATIONAL AVERAGEeconomic indicators. Each indicator target has RESULT: A HIGHER AVERAGE (OVER EACH 5 YEAR PERIOD.)been developed using a robust methodologyand is based on clear evidence about what is PROPORTION OF RESULT: 66%achievable and ambitious. PEOPLE ENGAGED IN OF THE POPULATION WITH NVQ3+ THE LABOUR MARKET THAN ACROSS THE UK.2%GVA AVERAGE ANNUAL GROWTH 1%PRODUCTIVITY ANNUAL GROWTH TARGET:TARGET:RESULT: RESULT: £39GVA PER HOUR OF BY 2036 GROW OUR ECONOMY MAKING IT HAPPEN BY £17.5BN Implementation will be delivered and driven through a series of action plans IN REAL TERMS BY 2036 covering each element of the strategy. These will be supported by the evidence0.5%JOBS BUSINESSES base, a common investment prioritisation 2%TARGET: tool, a shared approach to inclusive growth.TARGET: ANNUAL GROWTH ANNUAL GROWTH We will measure and review progress with all partners annually.88,000RESULT: 30,000RESULT: This strategy will not be delivered by NEW SUCCESSFUL one partner alone or by one strand of NET NEW JOBS BY 2036 BUSINESSES BY 2036 investment or actions. The ambitions and priorities we have agreed provide theHOUSING INCLUSIVE GROWTH: MEDIAN WAGES direction and strategic case for a wideTARGET: M EET THE OBJECTIVELY 1.7%TARGET: range of partners to develop their own plans and interventions that contribute to ASSESSED NEED £200RESULT: achieving our shared ambitions. ANNUAL GROWTHRESULT: 140,000 11EXECUTIVE SUMMARY NEW HOMES MORE PER WEEK BY 2036

Our Economic Strategy has been developed in partnership with and endorsed by a wide range of stakeholders: