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 driving productivity and prosperity for all, 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:
- Delivering transformational economic infrastructure.
- Developing its world class marine/defence technology assets through the Oceansgate Enterprise Zone and other key developments and locations.
- Adopting a proactive and innovative approach to utilising the City's significant marine/defence research assets, including the creation of new research facilities in strategic locations.
- 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.
- Encouraging business growth and investment.
- Supporting the Growth Hub in creating an integrated and accessible business support offer for all businesses looking for start-up support or for growth advice, guidance and signposting.
- Supporting the development of new business incubation environments to raise business start-up rates, including space for connecting students, academics, researchers and entrepreneurs and providing start-up capital, mentoring and skills to retain talent and grow new businesses.
- Raising the proportion of businesses exporting (including trading online) and helping those currently exporting to exploit new market opportunities through targeted support.
- Opening up data where possible to improve our collective understanding of how the city operates and unlocking the potential of a smart city, while improving digital connectivity and cyber security, thereby supporting the growth of existing businesses, driving innovative business opportunities and maximising the potential of the digital industry.
- Boosting levels of local procurement and connecting residents to opportunities arising from major developments and inward investments.
- Empowering people, communities, businesses and institutions to develop co-operative, mutual and other social enterprise initiatives to drive their own economic success.
- Providing targeted support for the creation and growth of cooperatives, mutual and other social enterprises across the city, building on Plymouth's status as a Social Enterprise City.
- Empowering communities to develop new economic opportunities, including through the transfer of community based assets and the growth of cooperatives, mutual and other social enterprises and the voluntary and community sector.
- Use planning powers to ensure that a good supply employment land is provided and maintained to meet the needs of existing and new businesses.