Decision details

STOCKTON-ON-TEES BOROUGH COUNCIL

CABINET/COUNCIL DECISION

PROFORMA

Cabinet Meeting ........................................................................ 12 December 2024

1. Title of Item/Report

Inclusive Growth Strategy 2025-2028

2. Record of the Decision

Consideration was given to a report that provided the revised Inclusive Growth Strategy 2025-2028 as one of the Council’s key policy documents as outlined in the Stockton-on Tees Plan 2024-2028 and for consideration by Council in January 2025.

Inclusive Growth referred to broad-based growth that enabled the widest range of people and places to contribute to economic success, and to benefit from it too. Its purpose is to achieve more prosperity alongside greater equity in opportunities and outcomes and enabling as many people as possible to contribute and benefit from growth, essentially promoting economic growth that benefitted the Borough’s residents.

The Strategy was centred on ten strategic ‘levers’. These were the themes that would govern the Council work on inclusive growth and would ensure that the Council take a comprehensive approach that focused equally on economic growth and inclusivity. The themes were wide-ranging and included developing new economic roles for Stockton-on-Tees and ensuring the Borough becomes a place recognised for good work, fair pay and responsible business ownership.

The ten levers reinforced the ambition of other Council strategies including the Fairer Stockton-on-Tees framework, the overarching 2024-28 Council Plan, and the emerging Powering Our Future Strategy. The Council would also work with the Tees Valley Combined Authority to complement their emphasis on inclusive growth and inequalities contained within the Tees Valley Strategic Economic Plan.

The ten levers were proposed as the focus of Council activity to turn the Vision into reality. These were:

1. Rapidly Growing and Broadening the Stockton Employment & Business Base

2. Rapidly Growing and Broadening the Stockton Skills & Enterprise Base

3. Helping our Businesses to Grow Faster and to Better Innovate

4. Developing New Economic Roles and Functions within Stockton-on-Tees

5. Changing the Image and Investor Perceptions of Stockton-on-Tees

6. Ensuring All Our Target Communities Can Access Economic Opportunity

7. Making Stockton-on-Tees a Recognised Place of Good Work & Fair Pay

8. Making Stockton-on-Tees a Recognised Place of Responsible Business & Local Ownership

9. Ensuring More Wealth is Retained in Stockton-on-Tees and Circulates Locally

10. Putting More Economic Assets and Power into the Hands of our Local Communities

Further detail on each of these levers can be found in the appendix to the report.

The Strategy was developed alongside key stakeholders, including engagement across all Council departments, external stakeholders and the business community. The outcomes this informed the priority actions under each of the ten levers.

RECOMMENDED to Council that the Inclusive Growth Strategy (attached at Appendix 1 of the report) be approved.

3. Reasons for the Decision

 This Strategy marks a new direction for Inclusive Growth.  It sets out a Vision for the future, developed in partnership with internal and external stakeholders and will directly link to the Fairer Stockton Framework, which aims to narrow inequalities gaps across the Borough.

The Strategy has been developed to reflect the importance of a long-term approach that encourages both sustained economic growth across the Borough and a more equitable distribution of the wealth that we generate.

Our aspirations for the local area are visionary and forward looking and once approved, the Inclusive Growth Strategy will serve as a guiding framework to work proactively with investors, developers and other stakeholders to create the right conditions for successful inclusive growth.

Whilst this is the Council’s Inclusive Growth Strategy, we will work collaboratively with our partners, including the business community, to deliver our priorities for success. This will include our Business Ambassadors, who are working with us proactively as advocates for our people and our place.

4. Alternative Options Considered and Rejected

            None

5. Declared (Cabinet Member) Conflicts of Interest

            None

6. Details of any Dispensations

            None

7. Date and Time by which Call In must be executed

            N/A

Proper Officer