Agenda item

Economic Renewal Plan


A report was received regarding the existing and future Strategic Economic Plan priorities aka the Renewal Action Plan (RAP).


It was noted the development of the Sheffield City Region (SCR) Renewal Action Plan (RAP) is an important move to mitigate the worst effects of the Covid-19 crisis and ensure a strong and timely recovery towards a more resilient economy and society.  It was confirmed the RAP is aligned with the Economic Plan (SEP) and will act as a bridge to the SEP, setting out the more immediate term actions we need to take and should allow us to reset and confirm our priorities and the sequence of interventions needed in the medium to longer term.


It was noted the RAP has been designed with three linked horizons in mind: Relief (immediate term), Recovery (medium term) and Resilience (long term) and that the interventions in the draft RAP developed so far are designed to be delivered within the next 12 to 18 months.


The meeting was provided with a detailed explanation of the substantive themes contained within the plan.


It was noted the Mayor’s Economic Recovery Sub Group has greatly informed the development of the RAP.


The draft RAP was attached at Appendix 1 to the report.


Members thanked officers for the work undertaken in developing both the plan and the supporting analysis, noting the SCR is ahead of other city regions on this respect. It was asserted that recovery needs to be ‘jobs led and rooted in recognition of the needs of the local and regional economies.


It was agreed the SCR needs to speak with ‘one voice’ as a means of maximising the effectiveness of our discussions with government.


It was clarified that the RAP is synonymous with the previously reported ERP (Economic Recovery Plan). It was also noted the data collated to support the RAP will be made available to partners for other recovery related initiatives.


It was agreed the SCR needs to take a proactive, and not just a responsive, approach to ensuring businesses know what support is available to them, in both the shorter and longer terms.


The meeting discussed the importance of ensuring the RAP is supportive of addressing the various issues of inequality that have been made more evident during the pandemic.


It was noted some city regions have used their recovery plans to highlight ‘big ticket’ investment opportunities as ways to drive economic growth and questioned what the SCR’s inspiring projects are. It was proposed that whilst such projects will catch the eye of government, we need to ensure any such projects genuinely improve the local economy and create local jobs.


The importance of the SCR Thematic Board, and also the SCR Growth Hub in taking forward RAP initiatives and wider support for government were asserted.


The meeting discussed the importance of progressing work in conjunction with our universities and noted what initiatives are in place to ensure that will happen.


It was noted the intended final version would be presented to the MCA for approval.


RESOLVED, that the Board:


  1. Endorses the draft SCR Renewal Action Plan


2.    Agrees to take forward the delivery planning through the appropriate Thematic Boards.

Supporting documents: