Economic development strategy - London Borough of Hillingdon

HILLINGDON’S ECONOMY, OUR ASPIRATIONS AND OBJECTIVES
Hillingdon’s economy, our aspirations
and objectives
Hillingdon as an economic entity
Over the past 12 months key public documents have
emerged including the London Development
Agency’s (LDA’s) Economic Development Strategy,
and the West London Economic Development
Strategy (WLEDS). In addition, the Government has
launched its new initiative, the Local Authority
Business Growth Incentives (LABGI), giving local
authorities a financial incentive to maximise
economic growth in their boroughs. These
developments will influence the economic context
in which local economies operate, and have
therefore prompted a range of partner agencies to
come together to share a vision for the economy of
Hillingdon and to develop a strategy and action
plan to realise the vision.
No sector alone, whether public, private or
voluntary, has the power to drive, influence and
shape the economy in its broadest sense i.e.
incorporating the housing market, transportation,
employment, land use, etc. It is therefore felt that a
shared sense of ownership is vital not just for the
writing of the strategy but in driving through its
aims and objectives. To this end 17 partner agencies
(see Appendix 1 for details) attended a series of
seven meetings over a period of two months to
comment on the analysis of Hillingdon’s strengths,
weaknesses, opportunities and threats, and the
statistical analysis of the economy, to create the
vision and influence the shape of the Strategy for a
Sustainable Economy in Hillingdon.
This document draws together the work of the
partners and recommends a series of economic
actions to capitalise on opportunities, develop
strategic leadership, promote partnership working
and realise the strategy’s vision. The recommended
actions will be used to direct the annual Delivery
Action Plan.
Strategic links
The strategy has been developed in the knowledge
that the borough’s economic vision will continue to
be tempered and influenced by wider external
factors, for many of which there is limited local
power to influence or change but whose impact on
this borough would be huge e.g. Heathrow Third
Runway, Cross Rail, the Olympics etc. In developing a
united vision for the future of the borough, it is
hoped that local concerns can be more clearly
articulated and action taken to capitalise on
emerging opportunities.
In light of regional and sub-regional strategies with a
direct influence on economic activity, in particular the
Sub-Regional Development Framework and the West
London Economic Development Strategy, it has been
vital for the strategy to be developed in partnership
with sub-regional strategic organisations. To this end
the strategy complements other regional, subregional
and local strategies including the Hillingdon
Local Development Framework and Hillingdon's
Community Strategy. Key targets from these
strategies are attached as Appendix 2. In moving to
implement the strategic recommendations, it will be
advantageous to work in partnership with
neighbouring boroughs to tackle issues holistically
and maximise resources available.
Future partnership action
Hillingdon’s Local Strategic Partnership, known as
the Hillingdon Partners, aims to use its authority
and strategic influence to facilitate partnership
working. This approach will enable greater focus in
the use of resources and create an infrastructure
that will achieve a sustainable, inclusive and
economically prosperous borough.
The range of partners engaged in this process has
been extensive and given the opportunity presented
by their diversity and commitment, it is intended
3 HILLINGDON’S ECONOMIC STRATEGY FOR A SUSTAINABLE ECONOMY 2005-2015 - A PROSPEROUS BOROUGH