Objectives Strategic Priorities Measures People: Employment & skills Increase average salary levels by 3% by 2018 1.Improve skill levels with focus on STEM, Cyber and Agri-tech skills No. of residents with NVQ4+ increased by 4.5% by 2018 750 businesses offering work placements by 2016/17 2. Provide businesses with the skills they need through To ensure that the number of individuals participating in an better connections with education apprenticeship remains at, or as close to, 10,000 each year. 3.Increase the number of opportunities with focus on Increase the proportion of economically active individuals by 2% by disadvantaged groups 2018 Business growth 25k extra 1.Help businesses to grow through providing the right Proportion of surviving start-ups that reach £1m (metric growth TBC) jobs by 2025 To build an support, access to finance and reducing regulatory Proportion of growth” businesses (metric growth TBC) internationally “high burden recognised, Levels of exports increased from 17%, to 25% by 2025 highly 2.Develop an environment where innovation can % employees in knowledge-driven industries (metric growth TBC) competitive, flourish with a focus on agri-tech, cyber and STEM £2.9 bn innovative increase in business Planning, infrastructure & development GVA by 2025 location with 1. Increase the quantity and quality of commercial £750m private sector investment secured in commercial development better floorspace across the County by 2017 productivity and 550,000 sqft of new or improved commercial floorspace (over 2013) sustainable economic 21.5k extra 2.Develop transport infrastructure to allow business to Reduce congestion and travel time on key routes over 2014 baseline. growth. homes by grow and accelerate housing development 2025 3. Improve non-transport infrastructure to Increase take up and use of superfast broadband by 20% of SMEs businesses to grow by 2017/18 Increase the options for renewable heat and energy supply for x % businesses by 2020 (metric growth TBC) 4. Increase the housing to support business growth Profiling and promotion Promote Worcestershire to encourage inward To create 1500 FDI jobs by 2018 investment, retain businesses & raise the profile as a business location & tourist destination Increase the economic impact of tourism expenditure (figure TBC) Delivery Framework for Employment and Skills To build an internationally recognised, highly competitive, innovative business location with better productivity and sustainable economic growth Overall objective:
Objectives Strategic Priorities Measures To build 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 1.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 2. Provide businesses with the skills they need through better connections with education 750 businesses offering work placements by 2016/17 To ensure that the number of individuals participating in an apprenticeship remains at, or as close to, 10,000 each year. 3.Increase the number of opportunities with focus on disadvantaged groups Increase the proportion of economically active individuals by 2% by 2018 Business growth 1.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 2.Develop an environment where innovation can flourish with a focus on agri-tech, cyber and STEM % employees in knowledge-driven industries (metric growth TBC) Planning, infrastructure & development 1. Increase the quantity and quality of commercial floorspace across the County £750m private sector investment secured in commercial development by 2017 550,000 sqft of new or improved commercial floorspace (over 2013) 2.Develop transport infrastructure to allow business to grow and accelerate housing development Reduce congestion and travel time on key routes over 2014 baseline. 3. 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) 4. Increase the housing to support business growth Profiling and promotion Promote Worcestershire to encourage inward investment, retain businesses & raise the profile as a business location & tourist destination To create 1500 FDI jobs by 2018 Increase the economic impact of tourism expenditure (figure TBC) Delivery Framework for Employment and Skills Overall objective: To build an internationally recognised, highly competitive, innovative business location with better productivity and sustainable economic growth
Board-Papers-for-meeting-on-02.04.15.docx