Our current Strategic Economic Plan (SEP), developed with the full engagement of business and the public and private sectors and published in July 2014, sets out our ambitions for sustainable economic growth with stretching outcome targets - 60,000 jobs, 26,000 additional homes and 970,00 sqm of employment space - by 2021.
In 2014, through our SEP, we made a compelling business case to Government and were awarded a £202m Growth Deal to boost skills, drive innovation, provide targeted business support and improve infrastructure through the delivery of over 40 projects across the area.
In January 2015 an expansion of £36m of Local Growth Funding was announced taking the total of projects to over 50. The deal, which was signed in March 2015 by minister Matthew Hancock, will see the creation of up to 21,000 new jobs, 9000 new homes and will generate over £390 of public and private investment over its lifetime (2015-2021).
The successful projects focus on place and growth sectors, these sectors being key to driving economic growth, improving productivity and stimulating innovation. The LEP currently focusses on 5 key sectors of genuine strength and economic opportunity to ensure that the area is recognised as a dynamic and thriving community of businesses these are :- Creative Digital & IT, Finance and Business Services, Advanced Manufacturing and Engineering, Environmental Technologies and Healthcare and Life Sciences.
We have received news on our latest Growth Deal request to Government (Growth Deal 3) which prioritises business and enterprise; regeneration; skills; transport and infrastructure. Further details are available in our press releases.
A refresh of our SEP is planned to run concurrently with the development of the Government's industrial strategy, and will take account of current economic drivers, BREXIT, proposed improvements to Brighton Main Line and the decision on south east airport capacity. We will paint a picture of the local story, highlighting the strengths of the Coast to Capital economy and the barriers to growth that need to be addressed through strategic challenge and investment from a national and local level.
The refresh will be a fully consultative process with information on how to get involved available soon.
Capitalising on the benefits of devolution for Coast to Capital's economy
Devolution offers an exciting opportunity for the Coast to Capital area to have more control over its funding and greater local decision-making across a range of services vital to our long-term growth. This includes key areas such as; economic development, skills, infrastructure, transport, housing development and productivity.
Coast to Capital is pro-actively engaged with the Greater Brighton and Three Southern Counties devolution teams and is supporting ongoing discussions with Government to develop and progress the respective proposals. We are also working closely with the South London Partnership, Greater London Authority and London Borough of Croydon to understand the implications of the London Plan.
Delivering on our Enterprise Zone
The Newhaven Enterprise Zone (EZ) is a partnership between Lewes District Council (LDC) and Coast to Capital to regenerate the economy of Newhaven. The EZ will encompass eight separate sites dispersed throughout the town, to support the sustainable regeneration of Newhaven and its shift towards a higher value economy over the next twenty five years.
The Enterprise Zone officially commences in April 2017 and covers approximately 79 hectares. The EZ is forecast to have the following benefits:
- Create 55,000m² of new commercial and employment floorspace
- Refurbish a further 15,000m² of commercial and employment floorspace
- Create / safeguard up to 2,000 jobs.
The focus of the EZ is on developing the 'clean, green and marine' technology sectors, including manufacturing and engineering industries linked to the maritime sector, building on Newhaven's historic strengths as a Port town and key gateway to the continent. The EZ will also play a critical role in delivering economic productivity across Greater Brighton, and easing pressure on the rapidly growing Brighton City Region economy.
For more information please refer to the 'Related Resources and Related Projects' section on the right-hand side menu.