How the Council will increase the number of homes and jobs for local people and develop the Bath City Riverside Enterprise Area will be considered in public by the Housing and Major Projects Policy Development and Scrutiny Committee on 15th November 2011.
The Development and Major Projects service plan is the first of five reports which set out the organisation’s financial position and how services will be provided to residents over the next three years. A reduced grant from the Coalition Government, high inflation, increasing demand for our services, and the impact of new legislation make balancing the budget extremely challenging. Whilst protecting frontline priority public services, the Council must plan to boost local economic growth.
Creating new private sector jobs with better pay is essential if residents, present and future, are to share higher levels of prosperity and the children and grandchildren that our excellent schools educate don’t have to move away to progress their careers.
What are they planning to do?
To capture the funding that will create the business environment to attract private sector investment, the Council must adapt its approach in response to national legislation – namely:
* The Government’s focus on distributing national funding to support local economic growth is mainly through Local Enterprise Partnerships (LEP);
* The creation of new income streams for local authorities which incentivise building new homes – the New Homes Bonus – and encourage business growth – the possible retention of Business Rates through the Localism Bill;
Securing this national funding is dependent on achieving our targets for building local homes and developing low-carbon modern business space across the district to attract new private sector investment into our area.
Creating a Bath ‘City of Ideas’
Developing a successful economic corridor connecting the West of England Local Enterprise Partnership Bath City Riverside Enterprise Area with Keynsham and Bristol’s Temple Quarter Enterprise Zone will help secure these streams of national funding.
If the Government agrees that councils can keep business rates the Bath City Riverside Enterprise Area has the potential to generate £292 million over a 25 year period. This will benefit the whole area as it will be determined locally how that money is redistributed.
To bring in leading businesses into the Riverside area we want to build upon Bath’s international reputation as a centre of academic excellence and a world leader in a range of knowledge-intensive sectors including digital and creative industries, green technologies, micro-electronics, science and technological innovation.
Creating a business destination at Bath City Riverside where higher value businesses can locate and expand creating up to 2,000 jobs for local people and a further 3,500 homes is a fundamental part of our plans for ‘City of Ideas’ where those industries can thrive. As part of our progress towards this plan, the Bath Riverside homes development continues apace.
This work sits alongside our commitment to regenerating Keynsham, Midsomer Norton, and Radstock with development for new workspace, jobs, and homes. We will be working with and listening to local communities as plans, such as for the regeneration of Keynsham town centre and Somerdale, are implemented.
Next steps for economic growth
In early 2012, the Council will be publishing further details of how it will deliver the City of Ideas. This delivery plan includes how Council property assets can be best utilised to initiate development schemes and also:
* Where we intend to create employment space to enable new businesses to grow and existing ones to thrive – these sites are Manvers Street, Bath Quays North, Bath Quays South and South Bank, Green Park Station, Bath Press, Bath Western Riverside West, Bath Western Riverside East, Stable Yard area and Carrs Mill area;
* The infrastructure required to release this development – namely:
i) Land remediation to remove the gasholders and gas station and provide compensatory storage;
ii) Transport infrastructure to provide a footbridge across the River Avon to improve access to the South Bank from the city centre;
iii) Bath Transport Package to improve public transport infrastructure in the city;
iv) Strategic Flood Mitigation to reduce identified flood risks.
* Supporting the expansion of digital, including improved broadband infrastructure;
* Maximising the economic potential for the River Avon to become part of driving our growth, as well as opportunities to use it as infrastructure;
* How we will engage with the public, businesses, and other stakeholders with these plans.
The investment in the public realm is maintained which supports the economic regeneration of the city and enhances Bath’s attraction as a World Heritage Site and international visitor destination.
The work across the Council promotes joint programmes that support graduate retention and tackle high levels of youth unemployment. This is in partnership with the Universities, Further Education colleges businesses, Job Centre Plus, and the local Learning Partnership.
The responsibility of stimulating of economic growth across the area will be co-ordinated by the Development & Major Projects Team, including responsibilities for the growth agenda, working with the West of England Local Enterprise Partnership, and economic plans for the Somer Valley and Keynsham.
For the agenda papers: http://democracy.bathnes.gov.uk/ieListDocuments.aspx?MId=3332&x=1
