Cheshire West and Chester Local Area Industrial Strategy LIS - - PowerPoint PPT Presentation

Cheshire West and Chester Local Area Industrial Strategy

LIS engagement session 12 June 2019

Local Area Industrial Strategy

What is a Local Area Industrial Strategy

• An approach unique to Cheshire and Warrington
• To look in more depth at local strengths, assets and challenges

which are overshadowed at sub-regional level

• Will link in with the LIS and provide complementary focus

CW&C Local Area Industrial Strategy

We’ve looked in detail at the evidence around:

• Local productivity
• Local distinctive sectoral strengths and clusters
• Local employment and pay
• Place-based opportunities and challenges

Headlines from the Local Area Industrial Strategy (LAIS)

A £10.4bn economy contributing to a £30.9bn sub-regional economy 3.0% average annual GVA growth compared to 2.7% in Cheshire & Warrington, 2.2% in the UK and 2.1% in the NW Higher than average GVA per head – £30,677 £35.51 produced per hour worked – higher than Cheshire & Warrington, NW and UK but little growth between 2012 and 2017 at 0.1% on average per annum

A strong economy but signs of challenges

The largest sector by GVA – £2.4bn High employment with 15,000 jobs £160,800 produced per job – twice as productive as GB Growing faster than GB – GVA, jobs and sectors

Cheshire Science Corridor sites including Ellesmere Port, Thornton and Protos

With distinctive strengths in manufacturing

Sub-sectoral strengths in: Chemicals – 4x specialised as GB with 2,250 jobs; especially inorganic base chemicals Automotive – 3x as specialised as GB with 2,750 jobs

Above manufacturing figures include food and drink manufacturing.

And the financial sector

Contributes £1.2bn to the local economy Of 8,500 jobs, 7,000 are in financial service activities £139,412 per job – 34% more productive than C&W and 14% more productive than GB 3.0% average annual GVA growth compared to almost no growth nationally Financial service activities is 2.5 times more specialised than GB with specific strengths in banking and credit granting

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As well as other sectors

5,400 jobs in agri-food with a rich agricultural sector and specialisms in bread, pastry and cake manufacture A diverse visitor economy with 18,050 jobs and anchor visitor attractions including Chester Zoo and Cheshire Oaks A strategically important energy with 1/3 European uranium processed at Capenhurst and a cluster of assets along the Mersey Estuary Chester is a top ten creative cluster

But there are inclusive growth challenges

Over one third of employee jobs are part-time – higher than average Part-time work more common in hospitality, leisure, retail, education, health & social care, and town & city centres Part-time resident jobs pay almost 34% less and part-time workplace jobs pay almost 30% less than full-time 23.3% workplace jobs pay below the Living Wage compared to 22.0% nationally Challenges around housing – mix of offer across the borough, transport and connectivity

This is a diverse area

A mixture of urban, industrial and rural areas Concentration of jobs in urban centres (Chester), business parks (Chester and Gadbrook) and industrial areas (Ellesmere Port and Ince) A diverse economy in rural areas – 36% of total businesses, 42,000 jobs and strengths in wholesale & retail, visitor economy, professional services and agri-food £3.65m invested in the LEADER programme supporting diverse rural businesses

With strong links to the Mersey Dee

Part of three regional economic groupings: Cheshire and Warrington LEP, Mersey Dee Alliance and the Constellation Partnership Strong economic links to North East Wales and the Wirral Sectoral strengths – manufacturing, agri-food and visitor economy 41,300 total commuter movements between Cheshire West and the Mersey Dee

Group discussion

Discussion

• Does the evidence resonate with you? Can you suggest any

additions?

• For our key sectors of manufacturing, finance, agri-food, visitor

economy, digital and creative, energy and retail

• What are the opportunities and challenges?
• What practical actions are needed under the five foundations
• f productivity?