1. Economic Development Strategy 10 – 20 Year Strategy (2020/2030) 3 Year Rolling Action Plan Economic Partnership 9 th March 2009 Mary Manuel Head of Local Economy and Regeneration

2. Key Themes  Supporting Business Growth and Competitiveness  Improving Resident and Workforce Skills  Encouraging Inward and Local Investment

3. Vision by 2020: Bromley is one of most prosperous, thriving and skilled Boroughs in London  Vibrant town centres  An improved skills base  Improved employment opportunities  Sustaining and growing local business  Increasing inward and local investment

4. SWOT Analysis Strengths Quality of Life and Place Skill levels Income levels Strategic Connectivity Sector Strengths Weaknesses Lack of Economic containment Localised deprivation Lack of level 4 qualifications Quality and Range of Office Stock Dependence on Major Local Employees Opportunities Town Centre Investment ‘Green Potential’ Biggin Hill Airport Visitor Economy Political Climate Threats Potential loss of Major employees Economic Growth ‘v’ Quality of Environment Perceptions of Aspirations at Biggin Hill Increased economic containment National and Regional Focus on 2012

5. Scenarios DemandSupplyBalance (sq m)Balance (ha) Scenario 1 Office31,07329,502-1,571-0.2 Other Business Space2,01882,34580,32720.1 Warehousing/Distribution-60,6169,04669,66217.4 Scenario 2 Office211,57129,502-182,069-28.0 Other Business Space168,52482,345-86,179-21.5 Warehousing/Distribution8,4319,0466150.2 Scenario 3 Office149,13329,502-119,631-18.4 Other Businesses Space110,45982,345-28,144-7.0 Warehousing/Distribution-17,4879,04626,5336.6

6. Short term v long term  Current economic recession Supporting businesses in difficult times, managing decline in some areas and encouraging growth and innovation  Long term growth still forecast How do you identify growth businesses/sectors Building the conditions for local business and the borough to be part of the recovery, i.e. skills and infrastructure.

7. Strategic Priorities ?  Biggin Hill - manufacturing and business hub  Bromley Town Centre – retail led renewal  Beckenham Town Centre – consolidation  Orpington Town Centre – environmental improvements/ potential office development  Infrastructure improvements Extension of the tram route Improved orbital routes

8. Strategic Priorities ?  Diversification of the local economy Heavy reliance on F&BS and retail  Encouraging start up businesses  Supporting growth of local business  Encouraging inward investment  Focus on under performing communities low activity rate, employment and skill levels

9. Fundamentals for a prosperous economy  Quality of Place and Life  Infrastructure/ accessibility to suppliers and markets  Skilled workforce  Available land and property  Access to finance  Entrepreneurial culture

10. An Opportunity to Reassess our Economy  What type of Economy do we want to encourage?  Preparation of the Core Strategy (new planning framework for the borough)  Mayor’s Outer London Commission – reassessing the role of the suburbs Croydon identified as SL hub advantages/ disadvantages for Bromley

11. Time line  Draft Economic Development Strategy – July 2009  Consultation Aug- Oct 2009  Strategy finalised Nov/Dec 2009  Strategy published alongside draft 3 year action plan Jan 2010  Action plan 2010/2013 launched April 2010