GRO1 (PP) - Creating the conditions for economic growth

This policy is part of the Plymouth Plan which was approved by Plymouth City Council Full councillors on 27/02/2017.

The city will create the conditions for a transformed and rebalanced economy, attracting inward investment in knowledge-based industries including the marine and advanced manufacturing sectors and supporting new and existing city business, through the following measures:

  1. Delivering transformational economic infrastructure.
    1. Developing its world class marine assets through Oceansgate Enterprise Zone and other key developments and locations.
    2. Adopting a proactive and innovative approach to utilising the city's significant marine research assets, including the creation of new research facilities in strategic locations.
    3. Developing a world-class 'knowledge campus' in the north of the city, particularly in the Derriford area, through proactive management of strategic employment sites to achieve optimal outcomes.
  2. Encouraging business growth and investment.
    1. Creating an integrated and accessible business support offer for all businesses looking for start-up support, advice, guidance and signposting.
    2. Supporting the development of new business incubation environments to raise business start-up rates, including space for connecting students, academics, researchers and entrepreneurs.
    3. Raising the proportion of businesses exporting (including trading online) and helping those currently exporting to exploit new market opportunities through targeted support.
    4. Opening up data where possible to improve our collective understanding of how the city operates and unlocking the potential of a smart city, thereby supporting the growth of existing businesses, driving innovative business opportunities and maximising the potential of the digital industry.
  3. Empowering people, communities and institutions to develop social enterprise initiatives to drive their own economic success.
    1. Providing targeted support to social enterprises across the city, building on Plymouth's status as a Social Enterprise City.
    2. Empowering communities to develop new economic opportunities, including through the transfer of community based assets and the growth of social enterprises and the voluntary and community sector.
    3. Boosting levels of local procurement and connecting residents to opportunities arising from major developments and inward investments.
  4. Supporting creative (including digital) businesses.
    1. Creating a renowned major creative industries programme that nurtures creative talent including that of young entrepreneurs in Plymouth and assists with start up capital, space, mentoring and skills development in order to retain talent and attract national creative workers.
  5. Use planning powers to ensure that a good supply employment land is provided and maintained to meet the needs of existing and new businesses.