Appendix 1 - 2015 2018 Business Plan Summary – Objectives Goals Strategic Priorities Measures To an 25k extra jobs by People: Employment & skills internationally 2025 recognised, highly Increase average salary levels by 3% by 2018 Improve skill levels with focus on STEM, Cyber and Agri-tech competitive, skills No. of residents with NVQ4+ increased by 4.5% by 2018 £2.9 bn increase in innovative GVA by 2025 500 businesses offering work placements by March 17 business location Provide businesses with the skills they need through better To ensure that the number of individuals participating in an apprenticeship with better connections with education 21.5k extra homes by remains at, or as close to, 10,000 each year. productivity and 2025 sustainable Increase the number of opportunities with on Increase the proportion of economically active individuals by 2% by 2018 economic growth. disadvantaged groups Business growth Help businesses to grow through providing the right support, Proportion of surviving start-ups that reach £1m (metric growth TBC) access to finance and reducing regulatory burden Proportion of growth” businesses (metric growth TBC) “high Levels of exports increased from 17%, to 25% by 2025 Develop an environment innovation can flourish with a % employees in knowledge-driven industries (metric growth TBC) focus on agri-tech, cyber and STEM Place: Planning, infrastructure & development Increase the quantity and quality of commercial floor space £750m private sector investment secured in commercial development by across the County 2017 550,000 sqft of new or improved commercial floorspace (over 2013 benchmark) Develop transport infrastructure to allow business to grow Reduce congestion and travel time on key routes over 2014 baseline. and accelerate housing development Improve non-transport infrastructure to businesses to Increase take up and use of superfast broadband by 20% of SMEs by grow 2017/18 Increase the options for renewable heat and energy supply for x % businesses by 2020 (metric growth TBC) Increase the housing stock to support business growth Support the construction of 21,500 new homes by 2025 Profiling and promotion Promote Worcestershire to encourage inward investment, To create 1500 FDI jobs by 2018 retain businesses & the profile as a business location & Increase the economic impact of tourism expenditure (figure TBC) tourist destination
Appendix 1 - 2015 – 2018 Business Plan Summary Objectives Goals Strategic Priorities Measures To an internationally recognised, highly competitive, innovative business location with better productivity and sustainable economic growth. 25k extra jobs by 2025 £2.9 bn increase in GVA by 2025 21.5k extra homes by 2025 People: Employment & skills Improve skill levels with focus on STEM, Cyber and Agri-tech skills Increase average salary levels by 3% by 2018 No. of residents with NVQ4+ increased by 4.5% by 2018 Provide businesses with the skills they need through better connections with education 500 businesses offering work placements by March 17 To ensure that the number of individuals participating in an apprenticeship remains at, or as close to, 10,000 each year. Increase the number of opportunities with on disadvantaged groups Increase the proportion of economically active individuals by 2% by 2018 Business growth Help businesses to grow through providing the right support, access to finance and reducing regulatory burden Proportion of surviving start-ups that reach £1m (metric growth TBC) Proportion of “high growth” businesses (metric growth TBC) Levels of exports increased from 17%, to 25% by 2025 Develop an environment innovation can flourish with a focus on agri-tech, cyber and STEM % employees in knowledge-driven industries (metric growth TBC) Place: Planning, infrastructure & development Increase the quantity and quality of commercial floor space across the County £750m private sector investment secured in commercial development by 2017 550,000 sqft of new or improved commercial floorspace (over 2013 benchmark) Develop transport infrastructure to allow business to grow and accelerate housing development Reduce congestion and travel time on key routes over 2014 baseline. Improve non-transport infrastructure to businesses to grow Increase take up and use of superfast broadband by 20% of SMEs by 2017/18 Increase the options for renewable heat and energy supply for x % businesses by 2020 (metric growth TBC) Increase the housing stock to support business growth Support the construction of 21,500 new homes by 2025 Profiling and promotion Promote Worcestershire to encourage inward investment, retain businesses & the profile as a business location & tourist destination To create 1500 FDI jobs by 2018 Increase the economic impact of tourism expenditure (figure TBC)
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