THE BUSINESS BOARD STRATEGIES
The Business Board was a commissioner of the Cambridgeshire and Peterborough Independent Economic Review (CPIER), which has been a foundation of the Growth Ambition Statement (agreed by the Combined Authority Board) and the Local Industrial Strategy.
We have also led the building of the Local Economic Recovery Strategy and commissioned the Metrodynamics data on the economic impact of Covid-19
LOCAL ECONOMIC RECOVERY STRATEGY
The core mission of our Covid-19 Economic Recovery Strategy is to lead the nation out of recession – by accelerating the recovery, rebound
and renewal of our economy and achieving our ambition to double GVA by
2042 – in a new and more digitally enabled, greener, healthier and more
inclusive way than ever before.
METRODYNAMICS COVID-19 DATA
CAMBRIDGESHIRE AND PETERBOROUGH INDEPENDENT ECONOMIC REVIEW (CPIER)
The CPIER was led by an independent Commission and produced two reports, and interim and final review. Both reports are available at www.cpier.org.uk, alongside details of the management of the Review.
The Commission undertook two rounds of open public consultation during the process. At the beginning of the review, and then following the publication of the interim report. Alongside this the Commission held targeted stakeholder engagement sessions with local authorities and other partners and visited key locations such as market towns.
The final CPIER report includes a summary of the organisations that contributed to the Review over the course of this activity.
LOCAL INDUSTRIAL STRATEGY
Following the publication of the CPIER, the Business Board took responsibility for producing the Local Industrial Strategy (LIS).
The LIS has detailed the key areas of action needed to support the Combined Authority’s devolution deal commitment to doubling the size of the Cambridgeshire and Peterborough economy.
The goals of the Local Industrial Strategy are:
- To scale growth further to benefit the whole area, building on Cambridge’s World class assets to create INCLUSIVE growth across our economy
- To deliver a shared growth ambition across the OxCam Arc to become part of a global economy able to rival those of Toronto, Boston, Helsinki, Tel Aviv and Seoul
DIGITAL SECTOR STRATEGY
The aims of the Digital Sector Strategy are to:
Significantly increase the contribution of the technology sector to the region’s GVA Stimulate faster growth in other sectors through early and easy adoptions of cutting-edge technology Ensure that the benefits of technology-based business growth is spread beyond the Greater Cambridge cluster and across the region.
Support the overarching aim of the Combined Authority in making Cambridgeshire & Peterborough a leading place in the world to live, learn and work.
It builds on the strong foundations that already exist in Cambridgeshire & Peterborough, and our recommendations aim to further enhance this region as the global centre of cutting-edge and inclusive technology innovation. We will create and adopt the technologies of tomorrow, offer businesses exceptional talent at all levels and provide a highly networking ecosystem that has global impact, helping to establish the region covered by the Cambridgeshire & Peterborough Combined Authority as the preferred base for firms across the world.
The Digital Sector Strategy represents a unique evidence base founded in primary research and secondary data, and extensive consultation with experts. It has been written by CW (Cambridge Wireless) and Anglia Ruskin University along with the help and support of a large number of people who have freely given up their time. We are especially grateful to the members of the steering Commission, chaired by David Cleevely, who guided our work throughout; to the Centre for Business Research who provided essential underpinning data, and to the hard working strategy team.
ADVANCED MATERIALS AND MANUFACTURING STRATEGY (AMM)
The AMM strategy was first developed in an earlier form by Hethel Innovation Ltd during 2019 into early 2020 but only to a draft stage. The Business Board decided the strategy required further development and engaged the Metro Dynamics team to develop it into a position statement during Autumn 2020
LIFE SCIENCES STRATEGY
The Life Sciences strategy was developed by Jones Lang Lascelle (JLL) during 2020 after extensive consultations with stakeholders and industry in the Greater Cambridge area and the strategy was revisited because of Covid-19 impacts during late-2020, with additions made to the draft.