Purpose of an Economic Strategy
The purpose of an Economic Strategy, as prepared by a local Council, is to give an overview of the economy of a local area and to provide an opportunity for the local Council to set out priorities for how it wishes to support the economy. This support can include (a) deploying resources (including staff resources) most effectively, (b) working with local employers and education institutions and (c) linking with, and obtain support from, outside agencies including Government.
Economic strategies can also allow councils to consider how to align economic objectives with other priorities such as responding to climate emergencies. Economic strategies are not land-use planning documents; however, they can support the work of plan-making by helping to shape the local economic priorities which underpin allocations and policies within the Local Plan.
Stratford-on-Avon and Warwick District Councils have decided to produce a joint Economic Strategy for the following reasons:
- The shared economic geography includes some shared challenges and shared opportunities. These are better addressed across the wider area of both councils, particularly where an issue within one council's area can be better addressed by the other authority.
- The South Warwickshire Local Plan will include land-use policies to support economic development. A joint economic strategy will help to shape thinking about what priorities should shape these policies.
- When engaging with Government and outside agencies (such as the West Midlands Combined Authority and CWLEP), the case for any support or inward investment is stronger when we can demonstrate clear and joined-up thinking about how to support our economies. Arguably the closure of the CWLEP strengthens the need for a strategy to promote economic growth.
- As both councils have declared climate emergencies, a joint economic strategy may provide wider opportunities to deliver on climate pledges.
Consultation Details
A 6 week public consultation on the draft Economic Strategy was held between Friday 17 February and Friday 31 March 2023. The consultation has now closed. The consultation document can be viewed below:
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