Bradford Property Forum Regeneration in Sheffield Sir Bob Kerslake Chief Executive, Sheffield City Council 16 January 2008

Contents  Regeneration and renewal of the public realm  How we got there -The role of the public sector -The role of the private sector  Sheffield’s economic position now  Creative Sheffield – City Development Company  The future for Sheffield

Renewing the City Centre – Winter Gardens

Heart of the City

City Hall/Barkers Pool

Station Gateway

Sheffield City Centre Masterplan

The Role of the Public Sector  Realisation that the City Council couldn’t do it alone, but that it did have a key role to play  Sheffield One – the URC – was of vital importance -Brought together a range of public sector partners (including SCC, YF and English Partnerships) -Acted as the link or broker between the statutory agencies and the private sector  Sheffield First for Investment – successfully attracted new companies to come to Sheffield on the back of the physical regeneration

The Role of the Private Sector  The private sector investment in Sheffield dwarfs the public sector  The early success of the public realm schemes (particularly Peace Gardens and Winter Gardens) gave the private sector confidence to invest  Investment is now taking place on a speculative basis in other areas of the city (particularly residential)

New Retail Quarter - Sevenstone

Sheffield’s Economic Position Now  Sheffield’s economy has revived over the last decade: -Population is growing -Wages are rising -GVA is increasing across most sectors -Unemployment has reached the national average

Sheffield’s population is beginning to grow once more

Unemployment has fallen to close to the national average and is lower than the Core City average

Wages are rising  The increase in Sheffield is greater than the national and Core City averages, indicating that the wage gap is closing  However, we still lag behind the most affluent areas

Expanding Business Base Sheffield’s growth in business stock has been competitive

Strong GVA growth across all service sectors

Achieving Economic Success  These positive economic outcomes have been achieved by a focused and integrated approach to regeneration  This includes both physical and economic regeneration  The concept of partnership has been vital – public and private

Why did it work?  Clear vision, shared by all partners  Outstanding architectural and design quality across all Masterplan projects  Commitment to maintain quality (e.g. city centre ambassadors)  Sustained, focused effort, with the shared belief that this was vital for Sheffield’s survival

Other factors  The importance of the benign macro-economic climate should not be under-estimated  Sheffield One focused on the city centre, but we knew that ensuring all our neighbourhoods and residents shared in success was vital  Transformational Projects established in each of our most deprived neighbourhoods

Successful Neighbourhoods

Next steps  Sheffield’s renaissance is not complete -Our employment rate is still below average -Educational attainment is not strong enough -Some neighbourhoods are not able to participate in Sheffield’s economic success -There is still more to do to complete the physical transformation  We need to make progress on all of these if we are to ensure Sheffield’s viability over the next decade

Sheffield First Partnership  Sheffield’s Local Strategic Partnership  Includes three key economic partnerships -Local Economy Board (responsible for LEGI) -Work and Skills Board -Creative Sheffield

Creative Sheffield  UK’s first City Development Company  Charged with: -Being the lead marketing agency for Sheffield -Building on the success of Sheffield First for Investment to attract quality inward investment -Developing the city’s physical infrastructure to internationally competitive standards -Developing initiatives that will promote the growth of the city’s scientific, creative and cultural knowledge base  This will be achieved through implementation of the Economic Masterplan

Economic Masterplan  Productive and competitive business  Economic inclusion and increasing participation  Creating the conditions for sustainable growth  However, the economic success of the wider city region is also important

Sheffield City Region

Conclusions  Economic transformation can only be achieved by a shared vision, and with collaboration between the public and private sectors  Important to integrate physical, economic and neighbourhood regeneration activity  The public sector will often need to lead, and to be able to take (calculated) risks  Boldness and imagination can pay off for the private sector