Stockton-on-Tees Borough Council

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Cabinet Decision: 12th July 2018
Title of Item/Report
Economic Climate Update Report
Record of the Decision
Consideration was given to a report on the Economic Climate.

The report, and subsequent quarterly updates, provided Members with an update on information published in Stockton's Local Economic Assessment 2017 as well as key recent economic announcements.

The report specifically includes a position statement on the first year of delivery of the Economic Strategy 2017-2032 and Growth Plan 2017-2020.

The report was presented to Cabinet on a quarterly basis. The emphasis of each report focuses on a particular theme as follows:

• People - labour supply
• Place - key economic development locations
• Business - key sectors and businesses
• Economic Performance Summary Report and Economic Growth Plan monitoring

Each thematic report was presented in four sections:

i. Economic Dashboard - presented a number of key indicators which were monitored at least quarterly, and included a position statement against the two indicators of growth relevant to the ‘People' chapter
ii. Updates - summarising key announcements and developments:

• updates - announcements with implications across key sectors, the region and nationally
• business announcements - announcements from some of the key businesses within the Borough
• strategic locations - a brief update on any new development at strategic employment locations across the Borough
• training & skills - provides an update on emerging news relating to skills needs and provision

Internet links had been included, where possible, to provide digital viewers of the report with more information on each announcement.

iii. Theme Review - An in depth focus, and the substantive part of the report, on key statistics affecting business, people or place. Most of the referenced statistics in the review are produced annually and cannot be updated quarterly.

iv. Case Study - A relevant case study for the theme. For example, the ‘Business' case study in the report focuses on the Chemical Industry in the Borough.

RESOLVED that;-

1. The report be noted.

2. The work being undertaken be supported.
Reasons for the Decision
Understanding the nature and extent of opportunities and challenges that exist within Stockton's economy will create a Borough that is more confident, vibrant and successful than ever before; where business and people prosper and grow.
Alternative Options Considered and Rejected
None.
Declared (Cabinet Member) Conflicts of Interest
Councillor Nigel Cooke declared a personal non prejudicial interest in respect of agenda item 16 - Economic Climate Update as he was Board Member of Tees Music Alliance and the Georgian Theatre.
Details of any Dispensations
N/A
Date and Time by which Call In must be executed
Midnight, 20 July 2018.
Attachment

Date of Publication: 16 July 2018


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