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Norfolk and Suffolk Industrial Strategy [Event/Meeting name] [Date]

Norfolk and Suffolk Industrial Strategy [Event/Meeting name] [Date]. [Name and organisation of person presenting]. Aims of today. Introduce Local Industrial Strategy and the reasons for the work Outline the approach to developing the Norfolk and Suffolk Local Industrial Strategy

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Norfolk and Suffolk Industrial Strategy [Event/Meeting name] [Date]

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  1. Norfolk and Suffolk Industrial Strategy [Event/Meeting name] [Date] [Name and organisation of person presenting]

  2. Aims of today • Introduce Local Industrial Strategy and the reasons for the work • Outline the approach to developing the Norfolk and Suffolk Local Industrial Strategy • Briefly review how our economy is doing • Discuss the strategic opportunities ahead • Start to develop the actions needed to take those opportunities

  3. Introducingthe Industrial Strategy

  4. Industrial Strategy White Paper Grand Challenges Artificial intelligence and data Ageing society Clean growth Future of mobility

  5. The productivity challenge in Norfolk and Suffolk

  6. Norfolk and Suffolk Economic Strategy

  7. Towards a Local Industrial Strategy Vision, Priorities and Targets Strategic Opportunities Norfolk and Suffolk Local Industrial Strategy Grand Challenges Foundations of Productivity

  8. Our Local Industrial Strategy will…… • Contribute to achieving the Economic Strategy through action to drive productivity and business growth • Focus on activity where we have competitive advantage and clear strategic opportunities. Not try to cover everything or start again. • Strengthen Government recognition of our distinctive strengths and contribution, based on robust evidence • Be business-led and owned by all partners • Place Norfolk and Suffolk in prime position to secure Government and private investment and influence policy

  9. Timetable and Approach

  10. Approach and Timetable

  11. Series of core events, together with input from business groups and networks. Core events aimed at business and academia which will focus on developing qualitative evidence and specific interventions, within the strategic opportunities and Grand Challenges. Businesses can sign up to events on the LEP website. Partner Summit – a session with LA, education, and business intermediaries on 11th June. To consider the evidence and interventions that have emerged from the core events.

  12. Economic Goals - Progress

  13. Our economy £21,995 and GVA per hour of £30.57 with GVA per head of A £36.4bn economy growing 1.8% average per annum 1.7m people 719,500 with 62,750 businesses & 13.9% growth since 2013 jobs 3.6% growth since 2012 7.8% growth since 2012 NVQ4+ 76.8% employment rate earning £527.80 median weekly wages &11.1%no qualification or NVQ1 31.0%

  14. Our Potential – Economic Strategy Ambitions

  15. Progress against Economic Indicators

  16. Overall productivity £30.57 per hour worked Low growth - 1% per year on average since 2012 Source: ONS GVA per hour worked (2004-17) GVA is deflated to give values in 2017 terms using ONS December 2018 GVA deflator

  17. Strategic Opportunities

  18. Agri-food 8,885 with GVA per job of £38,500 £3.5bn exporting £569m businesses …and 3.8% real growth rate With key assets and companies • Highly specialised in… • Meat processing • Condiments • Fertilisers/pesticides • Malt, beers & cider • Tractors and farm machinery • Sugar 91,300 jobs

  19. Agri Food - Opportunity and Potential Actions Opportunities / Strengths Possible Action Areas Collaboration with Lincolnshire, Cambridge and Peterborough on innovation, scale up and exports New Export support scheme – particularly for growth potential / new to export firms. Innovation Support Programme - demonstrating / sharing new techniques and technologies Food Enterprise Zones / news SME high growth programme Career promotion scheme in schools New Technical skills provision, Curriculum Increase value of exports and product Global Brands Increasing productivity through automation, technology Land and water management expertise – growing market Global research assets UK’s most productive land

  20. Clean energy • Opportunities • Innovation/R&D • Skills provision • Supply chain • Tier 1 or 2 manufacturing • Challenges • Competition • STEM skills • Lack of road/rail investment • Supply chain cost increases • Local opposition 610 with GVA per job of £119,200 £1.4bn exporting £193m businesses …and 28.0% real growth rate With key assets and companies • A global all-energy sector with specialisms in… • Nuclear • Gas • Offshore wind 11,800 jobs

  21. Clean Energy - Opportunity and Potential Actions Opportunities / Strengths Possible Action Areas UK’s all energy area, driving progress and value in: - cross sector innovation - productivity - exports - local energy networks - clean growth ambitions The All Energy Industry Council Existing planned investment will take us very close to becoming the UK’s top energy generating region. Can use this to drive wider business growth. Assets and opportunities to deliver the Nuclear & Offshore Wind Sector Deals e.g. supply chain programmes and skills centres of excellence. New SME / supply chain development support programme Further strengthening skills expertise - building on existing / new provision Innovation accelerator programmes and support for businesses looking to work cross sub sector Export support (including expertise / services) Career development / entry scheme for local people

  22. Digital/ICT 3,925 • Opportunities • Hubs linked to universities • East-West rail with Norwich/Ipswich • Uni/business links • Attractive housing offer • Challenges • Competition from other universities • Skills • Lack of road/rail investment • Strength of brand with GVA per job of £59,100 £1.4bn exporting £293m businesses …and 2.6% real growth rate With key assets and companies • Highly specialised in… • Communications technology • Digital media and publishing • With strengths in… • Cyber security • Quantum tech • Internet of • Things • UX Design 23,400 jobs

  23. Digital / ICT - Opportunity and Potential Actions Opportunities / Strengths Possible Action Areas Nationally significant clusters at Adastral Park near Ipswich (ICT) and Norwich (insuretech, creative, agritech) Norwich Cambridge Tech Corridor New cluster development programme Linking up innovation hubs New Scale up support programme Continue to invest in technical skill provision Campaign to attracting and retaining skills / graduates Inward Investment / location campaign

  24. Questions

  25. Questions for discussion • Have we captured the right competitive advantages, have we missed anything? If so what? • From your perspective what are the main business opportunities and challenges ahead? How could these opportunities improve productivity and business growth? • What actions must businesses take to adapt and take those opportunities? How can the public sector help? – please provide the what, how, who and when.

  26. How to Feedback Please capture the essence of the key points discussed in your groups and structure your notes under each question. A template for doing this is available alongside this slide deck. We have included a section for any other points that you want us to capture and feed into to the strategy development work. Please send your completed notes to Marie.Finbow@newanglia.co.uk

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