Stockport’s new Economic Development Strategy was developed as a result of consultation with key stakeholders during 2011. It has a five year life, from 2012 to 2017 and forms a blueprint for the prioritisation of economic development initiatives in Stockport.
The strategy addresses and acknowledges a changing and challenging economic climate and seeks to ensure Stockport remains a strong and effective presence within Greater Manchester. It is an important tool in bringing together existing and planned activity, securing a strong economic future for the borough.
Stockport has a successful and diverse economy with an impressive array of businesses, and has proven itself to be a town in which companies can grow and flourish. Stockport’s Economic Development Strategy seeks to ensure that we build on these strengths whilst addressing any challenges that may impact on future development.
Led by Stockport Economic Alliance, the strategy’s vision is:
For Stockport to ‘build on its position as a growth economy in Greater Manchester, connecting its residents and businesses to more opportunities, and providing an ideal environment to start, grow and locate a business.’
In order to achieve this vision, Stockport’s Economic Development Strategy 2012 – 2017 is organised around three central themes, which will focus support and activity over the next 5 years.
This theme considers the role of business in the economy and how existing activity can be developed to ensure future economic growth; how to support and grow a high value/high growth business base; how to support enterprise and inward investment; how to ensure sustainable development; and how to maximise Stockport’s position within Greater Manchester.
Stockport’s buildings and infrastructure are crucial to ensuring the borough is able to meet the needs of a growing and changing business base. It focuses on the need to raise the profile and potential of Stockport as a business destination, improve the quality of the town centre and promote sites with strategic development potential. This theme also considers enablers of growth such as communications and transport networks, and housing.
The quality of skills held by Stockport’s resident population is a major asset to Stockport’s economy. However, the development of skills needs to continue across all sectors of the population to ensure all residents have an opportunity to access employment. This theme concentrates on harnessing and supporting the existing skilled population to enable growth; whilst also improving the economic and life chances of its residents facing economic inequalities.
To retain its relevance and impact on the local economy, the Economic Development Strategy is supported by a 2 year action plan detailing proposed activity from 2015 – 2017.