The Head of Economic Development and the Executive Leader will deliver a presentation on Chorley’s Economic Development Strategy for the Borough.
Minutes:
The Head of Economic Development and Executive Leader of the Council attended the meeting to talk about the work that was being undertaken to deliver Chorley’s Economic Development Strategy.
The authority’s priorities were to create a vibrant town promoting and increasing inward investment, providing support to new and existing businesses, supporting young people through education, training and fostering entrepreneurship and to help reduce the gap in our most deprived communities.
At present there was no growth in the business rate base as the success business examination had been negated by larger companies closing. However, Chorley had a fantastic record for new business start-ups with 145 in September 2012 with the potential to create 542 new jobs and an 8.1m turnover. Geographically there was a borough wide spread which was pleasing as rural land is often seen as more valuable for housing land rather than employment and business use.
Inward investment was particularly important to Chorley as a lot of its residents commute to areas outside the borough for employment. The authority also continued to work extensively with existing businesses, providing 46 businesses with a dedicated service that would generate an additional 765 new jobs with an increased 3.3m turnover.
The Council was currently supporting 24 apprenticeships that were placed either with the Council or with its partners and were undertaking a joint employment support initiative with Runshaw College. Although not far off target, the quarter 1 figures for 16-18 year olds who are NEET were worryingly high, although it was hoped that this could be the result of a number of young people who had recently left educational establishments and were not yet registered in education or on a suitable apprenticeship programme.
Councillor Kim Snape left the meeting at 7.30pm.
Additional work was being undertaken to work with schools and colleges to create positive activities for NEET. Working with young people to offer alternatives was important such as considering self-employment opportunities. The Council was also holding the Chorley Schools Enterprise Challenge and was working on a Science and Engineering initiative.
Councillor Marion Lowe left the meeting at 7.40pm.
The Leader commented that the authority was extremely passionate about the town’s regeneration and development and was proud of its significant increase in new businesses and low closures of existing businesses. These statistics had caused a national spike and other authorities across the country were interested in our approach.
In response to a Member, it was explained that the median workplace earnings were based on Full Time Equivalent and it was accepted that this could skew the figures as many jobs were currently on a part time basis.
The town also benefited from businesses that were established just outside its borders, in areas such as Bamber Bridge and Leyland. The new Waitrose development had provided a number of jobs that Chorley residents could access and it was agreed that Members would be provided with the information on employment numbers.
The Chair thanked the Head of Economic Development and the Executive Leader for their attendance and expressed satisfaction that the work being undertaken was providing encouraging results for the town.