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5.growth and-opportunity-in-bristol

  1. 1. Growth and Opportunity Bristol's Economic Development 2012-25
  2. 2. Contents page Leader’s Foreword 2 1. Skills – supporting productivity and inclusion 3 2. Sector Support – promoting innovation and growth 5 3. Enterprise – driving high-growth businesses 7 4. Bristol Temple Quarter Enterprise Zone 9 5. Inward Investment – building upon success 6. Low Carbon Economy – leading edge technology and future growth 13 7. Neighbourhood Economies – contributing to tackling worklessness 15 8. Infrastructure & Connectivity – high speed broadband & rail electrification 17 9. Quality of Life – Bristol’s trump card 1 11 20
  3. 3. Economic Development in Bristol Leader’s Foreword Bristol has a strong and rapidly growing economy, but our continued prosperity depends on us aiming always to stay in the fast lane, do more and do it better. Business and investment are attracted to Bristol because of the city’s well-earned reputation for high productivity, a highly skilled workforce, a diverse industrial base, a strong spirit of enterprise and excellent universities and colleges. Bristol lies at the heart of the West of England Local Enterprise Partnership and is home to the Temple Quarter Enterprise Zone, which is expected to create jobs and build on our success. But we cannot afford to rest on our laurels. The Bristol Local Economic Assessment 2011 highlighted weaknesses as well as strengths, concerns as well as opportunities. That’s why we’re now following up with this Economic Development Prospectus, which includes a whole range of propositions designed to tackle the issues and enable us to drive forward sustainable prosperity and improve the lives of all our residents. Councillor Barbara Janke, Leader, Bristol City Council Vice-Chair, West of England Local Enterprise Partnership 2
  4. 4. Economic Development in Bristol 1 Skills – supporting productivity and inclusion .......................................... “The shift towards a knowledge-intensive economy has resulted in qualifications and skills becoming increasingly important. Local economies with a highly skilled workforce have significant competitive advantage over other areas, attracting investment and increasing productivity.” (Bristol Local Economic Assessment p. 43) Bristol has a highly skilled workforce. This was highlighted as a key strength by Bristol's Local Economic Assessment 2011 (LEA), which set out the positive impact on levels of productivity and support for "Bristol is a popular option for young and talented people looking to develop their careers." David Macdonald, Communications Manager, Orange. 3 knowledge intensive businesses, creativity and innovation. The LEA also identified as a key challenge in respect of the city’s workforce skills and development, “Developing sufficient and appropriate skills provision to enable employer demand to be met by local supply and enable economic growth to tackle persistent worklessness in some communities.” This suggests that, in addition to building upon the highly skilled workforce, Bristol’s economy will benefit from investment in lower-level skills.
  5. 5. Economic Development in Bristol Bristol will n build upon its strength in workforce skills through improving links between its universities and local business n continue to promote Knowledge Transfer Partnerships to facilitate the commercial use of academic research n work with partners to promote new science park (SPark) as a hub to connect business to new technologies n further improve the performance of our secondary schools and develop its further education and skills provision n work with colleges and businesses to provide 1,000 additional apprenticeships across the city n future proof our economy by working with employers, trade bodies and providers to ensure that future skills needs are met. Investing in education and skills All Bristol’s secondary schools have undergone significant rebuilding in recent years and several new academies have been established. The new Skills Academy in South Bristol is a key part of a major regeneration project in one of the city’s most deprived areas. The Skills Academy helps prepare 14-19 year olds and adults for work by offering a wide range of Diplomas, NVQs and BTEC courses. It provides young people with careerfocussed facilities and the opportunity to improve workrelated knowledge and skills. Adults are able to access a range of employer-led training opportunities aimed at sustainable employment. 4
  6. 6. Economic Development in Bristol 2 Sector Supporting – promoting innovation and growth .......................................... “Innovation and enterprise are particular features of Bristol’s economy, with high business formation rates, a world-class University active in knowledge transfer and spin-off businesses, and a creative industries sector promoting the development of ideas in all aspects of the city’s life. Bristol has been identified as an “innovation hub” by McKinsey and the World Economic Forum.” (Bristol Local Economic Assessment p. 43) Bristol’s LEA found that the city has significant strengths in some key sectors, many of which will be crucial to economic recovery and rebalancing. These include the ‘green’ and digital economy, creative industries and ICT alongside Bristol’s more traditional strength in finance, insurance and professional services. The LEA states that Bristol is well placed to take advantage of the opportunities provided by the green and digital sectors to drive both economic growth and environmental sustainability. In addition, Bristol’s flourishing cultural sector is driving strong and developing creative industries, promoting innovation and enterprise. “Bristol is recognised as a hub for innovation and excellence in manufacturing and we expect to help the city position itself as the green collar capital of Europe, using unique people development programmes and driving world class business practice.” Alan Bailey, Director, Environmental Lean Solutions Ltd. 5
  7. 7. Economic Development in Bristol Bristol will n play a leading role in establishing the regional iNets – innovation networks for creative industries, environmental technologies and microelectronics n bring together the city council economic development, green and digital functions into a new Futures group, specifically to maximise the opportunities offered for sustainable economic growth n play a leading role in the Local Enterprise Partnership for Bristol and the West of England, promoting a strong emphasis on sector support West of England Local Enterprise Partnership (LEP) The structure of the LEP is being developed so that it will have a significant sector focus. Ten business-led sector groups, covering the key growth sectors in the local economy are being established This sector driven approach will be central to the LEP’s ambition for creating 95,000 jobs by 2030 and annual economic growth of 3.4% by 2020. n prioritise key growth sectors including environmental technologies, digital media, hightech manufacturing, business services and other knowledge based industries, alongside ‘bulk’ employment sectors such as retail, care and hospitality n provide specific support to the creative industries sector, establishing strong links with the city’s vibrant cultural life 6
  8. 8. Economic Development in Bristol 3 Enterprise – driving high-growth businesses “The strength of the local economy is based upon high productivity, a diverse and mixed economy, high levels of enterprise and an excellent local higher education sector.” .......................................... (Bristol LEA Exec Summary) A relatively high level of enterprise is a key strength of Bristol’s local economy, positioning it well to recover from recession and a reduction in public sector employment. Business formation rates in the city are higher than in comparable UK cities. Similarly, Bristol has a higher level of selfemployment than in other large urban areas and above that for the UK as a whole. Both business formation and selfemployment are particularly strong in the key sectors of environmental technology and creative industries. 7 Bristol will n step up its Urban Enterprise programme to promote selfemployment and business formation, especially in deprived neighbourhoods n provide support to new and small businesses through developing relationships with trade organisations including the Institute of Directors and the Federation of Small Business
  9. 9. Economic Development in Bristol n take full advantage of the opportunities offered by an Enterprise Zone to drive new business investment in the area n support the formation of higher education ‘spin off’ and ‘spin out’ companies, for example through SETsquared based at the University of Bristol and continuing links with SPark and INets n develop the capacity of local small firms to compete for business with the City Council and other large organisations SETsquared Business Acceleration Aimed at helping early-stage, high-tech, high-growth potential ventures. It provides business coaching, mentoring and serviced office space as well as access to a highcalibre, international network of experienced entrepreneurs, potential investors and business professionals. The Bristol centre supports 50 companies, employing over 420 people. In 2008, the SETsquared Bristol Centre won the UKBI ‘Established Business Incubator of the Year’ award. Since 2008 the Bristol Centre has helped its member ventures raise nearly £60m of debt, grant and equity funding. 8
  10. 10. Economic Development in Bristol 4 Bristol Temple Quarter Enterprise Zone .......................................... 9 Bristol Temple Quarter is the West of England’s Enterprise Zone. It will act as a magnet for inward investment and boost the local economy by creating thousands of new jobs. The Zone features an extensive range of development opportunities ideal for meeting the needs of national and international investors. It will be the perfect location for creative minded businesses wanting to innovate, network and thrive. “Bristol has proved to be exactly the right kind of location to start a new high tech industry, thanks to synergies with its thriving industrial base and the excellent transport infrastructure serving the city”. Martin Wright, Managing Director, Marine Current Turbines Ltd
  11. 11. Economic Development in Bristol Bristol Temple Quarter Enterprise Zone will n cover circa 70 hectares (173 acres) of land surrounding and to the north and east of Bristol Temple Meads Railway Station n create almost 17,000 jobs over a 25 year period n build or refurbish over 240,000 m2 (2.6 million sq ft) of floorspace n have a particular focus on attracting creative industries and technology n feature very high speed, pervasive digital connectivity n benefit from the highest sustainability credentials, befitting a Green Capital n provide a business rate discount and relaxed planning processes Timescale Jan 2012 n vision agreed with key stakeholders n boundary and benefits package finalised n inward investment marketing and communications campaign launched April 2012 n Enterprise Zone formal launch 2012-2016 n investment in key elements of infrastructure to unlock stalled sites n attraction of world-leading brands in target markets n completion of first phase of new office developments n creation of 3,500 new jobs in 40 new businesses 2012-2036 n creation of approx. 17,000 new jobs in 400 new businesses n 30ha of currently underutilised land around Temple Meads station converted into prime location for work and leisure 10
  12. 12. Economic Development in Bristol 5 Inward Investment – building upon success Bristol will “Generally quality of life is considered the most important factor in Bristol’s favour. The combination of the location, skills and diverse industry base is hailed as providing excellent conditions overall for business.” (Bristol LEA p.27) .......................................... (Bristol LEA Exec Summary) Bristol has a significant and growing profile for business relocation and inward investment. The City Council’s Invest in Bristol service has been effective in attracting investment into the city and has supported a number of relocations by both public agencies and private businesses. Bristol’s appointment of an External Marketing Director provides it with an additional resource for raising the city’s profile and effective promotion of its strengths and potential. 11 n redouble efforts to attract and support investment in the local economy, with ‘Invest in Bristol Plus’ enhancing the range of services on offer n work with neighbours and partners in the West of England Local Enterprise Partnership to increase resources available for attracting and retaining investment n take full advantage of the local Enterprise Zone to attract investment n continue to develop the city’s national and international profile, emphasising its workforce skills, creativity, innovation and quality of life
  13. 13. Economic Development in Bristol High-tech inward investment Toshiba’s, Telecommunications Research Laboratory in Bristol is at the forefront of research into the next generation of wireless communication technology. There are a number of reasons behind the decision to locate TRL in Bristol, according to the head of the Bristol facility, Professor Ian Craddock. “Toshiba chose Bristol because of the wealth of talented individuals and technological expertise in the area. TRL also enjoys a productive relationship with the University of Bristol’s Centre for Communications Research, one the UK’s most prestigious centres for research and postgraduate training. Bristol also offers good quality of life, lots of leisure opportunities and its rail links, airport and location near the M4 and M5 makes it well placed for the fast moving communications industry.” 12
  14. 14. Economic Development in Bristol 6 Low Carbon Economy – Leading edge technology and future growth .......................................... Historically, energy use and carbon emissions have risen with population and economic growth. The challenge is for Bristol to substantially increase the carbon efficiency and energy security of its economy. This presents great challenges and opportunities for the city – creating new low carbon business opportunities, sustainable employment, improving quality of life and making Bristol more resilient. environmental technology services sector, positioning the city well for economic and employment growth in a sector with great potential. With a nucleus of high profile companies in renewable energy, water management, waste management, recycling, energy control, sustainable transport and environmental consultancy services Bristol is recognised as one of the leading centres of environmental technologies in the UK. (Bristol LEA p.14) (Bristol LEA p.70) Bristol has a relatively low level of carbon emissions, in comparison with other major English Cities, and has made some progress in reducing emissions, especially industrial and commercial emissions, in recent years. Bristol also has a carbonefficient economy, with relatively low carbon emissions in relation to economic output. The LEA also points out that Bristol’s economy supports a ‘cluster’ of firms in the 13 “In 1997 when we began we were two people, Euan Cameron and myself. Today we have more than 200 people spread around the globe. We started in Bristol. We’re now an international company.” Colin Palmer, Director and Co-founder of Wind Prospect
  15. 15. Economic Development in Bristol Bristol will n reduce CO2 emissions in the city by 40% by 2020 (from a 2005 baseline) n promote low-carbon alternative sources of energy supply, including renewables such and wind and wave technology n work toward a local energy supply company (ESCO) n develop micro-generation throughout the city, at both domestic and commercial premises using solar or other energy sources n develop and support local food production, supply and consumption to enhance foodsufficiency and reduce carbon emissions through transport n support retro-fitting of homes, offices and other premises to improve fuel efficiency and reduce emissions n encourage networking between firms in the environmental technology sector to promote growth n work with education and training providers to ensure the supply of skilled workers to meet industry demand Hydrogen Ferry Bristol City Council has established a partnership to design, develop and operate a hydrogen-fuelled passenger boat in the city’s floating harbour, as part of a wider hydrogen strategy The aim is to showcase hydrogen fuel cell technology, which is emerging as a possible clean and green alternative to traditional diesel and petrol engines and demonstrate its commercial viability. It is intended that this project will demonstrate the advantages to the public and businesses, kick-starting a hydrogen economy in Bristol and attracting new environmental innovators into the city. Hydrogen fuel technology is seen as a possible fuel of the future as it is clean, with the potential for significantly lower environmental impacts than other fuels; the only waste product of hydrogen fuel cells is water, so it will help to reduce air and water pollution in the Harbour. 14
  16. 16. Economic Development in Bristol 7 Neighbourhood Economies – contributing to tackling worklessness .......................................... Unemployment and worklessness in Bristol do not match the scale or rate to be found in other major cities in England. However, there are ‘pockets’ of unemployment and worklessness affecting some areas of the city … The ‘pockets’, or concentrations, of worklessness in particular neighbourhoods are largely matched by the spatial patterns of deprivation and disadvantage. There is a strong correlation between neighbourhoods experiencing persistent worklessness and those neighbourhoods registering as the most deprived. (Bristol LEA p.31) A number of neighbourhoods in Bristol experience high levels of worklessness – the proportion of working age people claiming out of work benefits, a wider measure than 15 ‘unemployment’. Worklessness not only has a strong link with societal problems but also acts as a brake upon sustainable economic growth. However, this worklessness is an opportunity to provide the additional workforce necessary to meet demand and to deliver economic growth. Activity at neighbourhood level has an important role to play in re-engaging the long-term unemployed with the labour market, providing accessible employment opportunities, both in spatial and skill-level terms. Retail centres and smaller trading/industrial centres are important to ‘neighbourhood economies’, providing employment opportunities and access to services without the need for extensive travel. Maintaining and developing these local centres is an important feature of building sustainable communities. (Bristol LEA p.82)
  17. 17. Economic Development in Bristol Bristol will n continue to develop Neighbourhood Partnerships, including strong links with local employers and traders, to promote neighbourhood economies n invest in the provision of employment advice and support, to enhance mainstream programmes such as the Work Programme and Jobcentre Plus activities n co-ordinate public service activities in and around local retail and business centres, to maximise their viability and contribution to sustainable communities n ensure that the development of neighbourhood planning takes full account of business needs and opportunities The Greater Bedminster Community Partnership is an alliance of local councillors, voluntary and community organisations, private businesses and public agencies within the two Bristol wards of Southville and Bedminster. About 21,000 people live within this area of, at least, half a dozen neighbourhoods. The partnership brings benefit to people living in the area through • encouraging greater cooperation and effectiveness between private, public and civil society organisations • offering increased opportunities for residents to influence policy making and implementation • being inclusive and vigorously opposing discrimination 16
  18. 18. Economic Development in Bristol 8 Infrastructure & Connectivity – High speed broadband & rail electrification “The particular magic about Bristol is its peculiar location, that is its adjacency to London and to Europe with an expanding airport, but also the natural geography of the place, close to the sea, close to some spectacular countryside.” .......................................... Dr John Savage CBE, Executive President of Business West Transport infrastructure in Bristol is a complex issue. Local negative perception of road traffic congestion is at odds with some positive official data, while measures of public transport provision point to local deficiencies in intracity connectivity. It is undoubted that an efficient transport system within the city is important for economic growth. (Bristol LEA p.63) 17 While the Bristol LEA reported the importance, and perceived shortcomings of the city’s transport infrastructure, it also highlighted the city’s digital connectivity and the advantages of its transport links to the rest of the UK and beyond. This latter will be enhanced by the improvements to national transport links including rail electrification from London to Cardiff via Bristol Temple Meads and Parkway stations.
  19. 19. Economic Development in Bristol Bristol will Digital Connectivity is a key factor in sustainable economic growth. Connectivity enables the city's firms to trade more efficiently; helps the city present a “smarter” and “greener” face to the outside world and underpins two-way engagement between public services and local communities. Bristol has digital talent in business and public sectors, in academia and in communities. Microelectronics, environmental technologies and creative digital industries flourish and Internet use is relatively high. Research by consultants ADIT suggests that Bristol is around the fifth most digitally connected UK city and suggests that there is real potential to move Bristol into a top-three position. (Bristol LEA p. 74) (Bristol LEA p.74) n continue to develop digital connectivity, through the roll-out of super-fast broadband and free wifi, whilst also promoting digital inclusion n build upon the announced electrification of the rail link to London by continuing to lobby for improvements to Bristol’s national and international transport links n deliver the Digital City Partnership Programme – Connecting Bristol – through a range of local projects using technology and digital media to help build more sustainable and environmentally friendly lifestyles n improve the city’s public transport through the introduction of rapid transit routes connecting peripheral areas with the city centre and employment sites to the north of the city (the ‘Northern Fringe’) n further improve the city’s internal transport by building upon the successful Cycling City initiative, increasing the number of regular cyclists and reducing congestion 18
  20. 20. Economic Development in Bristol Connecting Bristol is the city’s Digital Agency, working to ensure that Bristol has all the right components in place to be a leading Future City. In 2010 Connecting Bristol commissioned Dr Chris Tuppen, a leading sustainability expert, to assess the City’s progress, and to make recommendations to help us realise this ambition. • Promoting and facilitating the use of the Council’s open data Connecting Bristol is pursuing a broad ranging programme of activities which are illustrating the role of ICT and Digital Infrastructure as key enablers of a smart and sustainable, lowcarbon economy. • Developing ambitious and innovative partnerships with business, other UK and European Cities, and the community to help make Bristol a leading smart, sustainable and prosperous place. • Realising the potential of the Council’s directly managed, high-speed fibre network by opening up more than 60 free to access wifi hot-spots 19 • Developing neighbourhoodwide, showcase, energy management projects across the City. • Promoting digital inclusion by providing low-cost refurbished PCs, training and support to the most excluded groups
  21. 21. Economic Development in Bristol In comparison to other cities as potential locations for business (for example Cardiff, Manchester and Birmingham), Bristol is well regarded for its better quality of life, attractiveness, access to London and other markets, the diversity of its business base, cutting edge innovation and its higher value industry and skills. (Bristol LEA p.27) Bristol’s LEA refers to quality of life as both a strength – “Bristol has an attractive environment, with a good quality of life including cultural vibrancy and diversity” – and a key challenge of “retaining ‘quality of life’ amidst physical development of the city, to preserve Bristol’s character and attractiveness to investors”. It is clear that the reputation of Bristol’s quality of life is well deserved and a key factor in the city’s economic success – not least through its role in retaining and attracting graduates and so adding to the skilled workforce 9 Quality of Life – “What I love about Bristol is that it’s got the buzz of a city but you can still walk down the street and bump into people you know. There is a very good community feel”. Bristol’s trump card .......................................... Nick Park, Creative Director Aardman Animations Ltd. Quality of life can be seen in high standards of public realm, cultural life, leisure facilities and, especially in Bristol’s case, a generally ‘laid-back’ and tolerant atmosphere. The Forum for the Future Sustainable Cities Index 2010 ranked Bristol first for quality of life, for the second year running. This index uses indicators that measure levels of education, health (through life expectancy), employment, high quality green space and transport (through access to key services) in each of 20 UK cities. 20
  22. 22. Economic Development in Bristol Bristol will n deliver and co-ordinate an exciting and broad festivals and events programme n invest in arts and cultural organisations and venues throughout the city n support the Colston Hall Trust to deliver a wide range of musical and performing arts events n ensure high standards of design for new buildings and public realm, including distinctive and attractive public art n enhance Bristol’s parks and open spaces through implementation of the Parks & Green Spaces Strategy 21 M Shed – a new kind of museum A great city deserves to have its stories told. From tragedies to triumphs, to the extraordinary lives of ordinary people, and our connections with the wider world, Bristol has incredible stories to tell – M Shed does just that. M Shed is an exciting and innovative new museum; thought provoking and fun, it will challenge the perceptions of what it has meant to live here.
  23. 23. Bristol Business Map To Wa l e s S e v e r n M M5 25 Aztec West Yate 1 South Gloucestershire 49 J17 24 Winterbourne 1 Patchway 16 A403 Avonmouth Docks M5 21 7 8 J18a 10 4 35 E R N 1-2 Shirehampton 1-2 Sea Mills Allotments Stoke Bishop M 51 A38 Bristol V 5 O 43 2 Fishponds 42 36 45 53 1-2 Montpelier 55 Bristol University Flo 80 at in Fe gH a rb ou r Southville 72 74 Bedminster Ta u nton 83 84 Allotments 93 Filwood Park o Av Stockwood 2km 88 Bishopsworth Hartcliffe N © Copyright Bristol Design. Bristol City Council 2011. BD1403. April 2011. B ris tol A irpor t B S 4 8 3 DY ( 2 5 m in s) Bristol South West Inset 5 Brislington to Centre 24 minutes 92 Hengrove 87 Wi Fi available Wi Fi proposed ad g Ro 91 86 A38 17 A4 A4174 85 90 University Cadbury Heath 38 69 Knowle 82 Park & Ride sites Wind turbine sites 39 A37 Industrial sites 68 Longwell Green Hanham 66 on 1 Parson Street T he S outh We st Retail Parks Av Brislington A4 8 A3 ( 45 m i n s) & Ferry service er Bristol East Central Inset nR in A3 70 Cycle routes Riv 76 75 Main line stations 73 37 60 31 A4 77 62 67 al 7 A3 Bedminster Main A roads Railway 71 1 78 63 n r Ca ed e A420 40 70 A370 Kingswood A420 61 Temple Meads 65 81 48 47 2-3 Lawrence Hill 64 A4 79 Speedwell 57 58 59 North Somerset Long Ashton to Centre 9 minutes 46 56 54 Clifton Down A3 69 Station - Number of trains per hour to Temple Meads 2-3 Stapleton Road J3 1-2 A4174 Redland 1-2 41 49 52 Avo n Ring 8 10 A4 A4 6 17 Clifton 1 A43 Eastville A40 17 Redland A4 0 Downend 44 To t h e So u t h West 4 32 Bishopston J2 Motorway To H e athrow, Lond on & S o u t h Eas t 50 J19 KEY A4 17 4 North Bristol Fringe Inset I M V 34 Horfield R A M4 33 22 62 A 41 A4 Avonmouth Inset J1 Road 29 University of the West of England Westbury On Trym Portway to Centre 20 minutes 1 Av o n Ring 4 Filton Abbey Wood J18 2 4 A417 27 d oa gR Rin on Av 1-2 J1 9 28 Avonmouth 5 Avonmouth 4 Bristol Parkway Filton Henbury 14 9 Sw i nd on (3 0 m i ns) & Lond on (9 0 m i ns) 30 17 15 6 Royal Portbury Docks 31 8 A410 3 32 23 18 13 St Andrews 1 Road 11 4 A4 03 Bradley Stoke 12 Bi r m in g h am ( 7 6 m in s) & The N o r t h M 19 To the Nor th A4 32 t h e 26 J16 Road o f Ca rd iff ( 4 5 m in s) & S outh Wa les A38 M o u t h J15 J2 0 20 89 2 Keynsham Keynsham Bath and North East Somerset A4 Bath (1 1 m i ns) & The South Coa st 22
  24. 24. Contact Bristol City Council Economic Development Team Telephone 0117 922 2928 E-mail investinbristol@bristol.gov.uk Website www.investinbristol.com Local Economic Assessment at www.bristol.gov.uk/lea Design and printed by Bristol City Council Design I BD1558 I March 2012