Meeting documents

Mr Ian Barham provided the Committee with a presentation on the Local Enterprise Partnership, "Building the Buckinghamshire Local Industrial Strategy".

Members were informed that the strategy was evidence based and the key facts informing the strategy for Buckinghamshire were:-

·         Productivity is high 3rd of 38 Local Enterprise Partnerships

·         Gross valued added  per hour worked is 13.1% above national average

·         81.9% in employment - the highest in the corridor

·         Highest proportion of professional, technical and scientific employment outside of London

·         42% of workforce or approximately 80,000 people out-commuters – 35,000 to London boroughs

·         Highest degree level workforce – low level of vocational qualifications – 25% of Bucks Students go to Russell Group Universities

·         Population 10% below national average for 19-37 year olds – 10% above for 90+

·         Low Business Innovation – Innovate UK funding only 7% of Oxfordshire’s since 2011

·         The UK’s most micro firm economy 77.4% have fewer than 5 employees

·         Business start-up is 17% above national average with high survival rates

·         Digital connectivity poorest within the growth corridor - 1 in 10 in some areas cannot access superfast broadband.

The vision for Buckinghamshire Thames Valley Local Enterprise Partnership was that in 2030 and beyond, Buckinghamshire will be a place where:

·         entrepreneurial businesses benefit from the strength of the county’s iconic brands;

·         testing, experimentation and commercialisation of new ideas thrive;

·         sustained investment in R&D and future technologies drive continuous improvements in productivity.

Reference was made to the regions nationally recognised assets:

·         The creative and digital economy with Pinewood Studios at its core – Reference was made to the core UK film industry which contributes £1.6billion to national GDP. Pinewood Studios lie at the heart of the cluster with the skills base supported by the world’s best film school, the National Film and TV School in Beaconsfield.

·         Silverstone’s position at the core of a high production technology hub - Silverstone Tech Cluster with over 4000 businesses. World leading technologies in light-weighting, composites, aerodynamics and power train. 16,000 jobs in Knowledge Intensive Manufacturing in Bucks - up 12% since 2015. 300,000 sq ft of Enterprise Zone development planned at Silverstone

·         The role of the BTV-Westcott cluster as a key link in the UK space sector supply chain and links to aerospace - Upstream Space to increase in value from £13.7bn to £40bn by 2030. Growth fuelled by smaller, more responsive and agile satellites. Productivity in the sector 60% above the national average. Westcott has the highest proportion of rocket engineers in UK – the UK Propulsion Test Centre. Potential for National Stem & HE Research Hub

·         Medical technologies exploiting the international status of Stoke Mandeville and the expertise of the counties two universities- 28,000 already employed in the Health Sector. Home to Global Innovators such as GE Healthcare & Johnson & Johnson. 1st new medical school for over a century. At the apex of the Healthcare Golden Triangle. One of only 8 Independent Care pathways. Facing demographic time-bomb 90+ 10% above national average. Birthplace of the Paralympic Movement.

RESOLVED – That the Committee noted the information provided in the presentation and thanked Mr Ian Barham for his attendance.