Trafford Economic Alliance

IMPROVING QUALITY OF LIFE  - PROSPEROUS TRAFFORD

WHERE WE ARE NOW

The Trafford economy includes a multitude of assets and strengths, positioning the Borough at the heart of a thriving Manchester City Region.

It is an attractive place in which to set up a business or, indeed, relocate a business with yet more development opportunities on the horizon. Trafford is home to vibrant town centres, iconic cultural attractions and an efficient transport infrastructure, as well as being recognised as having a high quality of life, all of which underline the overall economic prosperity of Trafford and make it the Borough of choice for so many, personally and professionally.

It has...

• An economy that generates some £4.3 billion worth of wealth and jobs each year. This results in a net 15,000 more people coming into Trafford to work every day, than those who travel out to work in other areas (only exceeded by Manchester City centre). Employment has increased by nearly 20% from 108,000 in 1998 to 129,000 in 2003, the fastest increases across all of Greater Manchester.
   
• A pool of highly skilled labour to draw from, and is in the top 10 highest achieving authorities in England at GCSE level, with 64% of pupils gaining at least five graded A – C GCSEs in 2004. Our two colleges are thriving national centres of vocational excellence.
   
• Over 10,300 companies and is becoming recognised as the Enterprise Capital of the North West with 1,300 VAT registrations in 2003, double the Greater Manchester average. A high concentration of these businesses are in key growth sectors with financial, professional and business services accounting for 30% of the jobs in the borough.
   
• A family of town centres which are at the heart of the Borough adding character, as vibrant hubs for enjoying, living, working, shopping and leisure. Sale is home to the multi-award winning Sale Waterside Centre, which has had a positive impact on retailers and residents alike, with 74 % of residents being happy with their environment as a place to live.
   
• Metrolink, which runs through the heart of Trafford and provides fast and efficient access to the regional centre.
   
• A number of international iconic sporting, cultural and retail attractions including the Imperial War Museum North, Manchester United, Lancashire County Cricket Club and the Trafford Centre. These attractions employ more than 8,000 people and inject between £45 - £55 million in wages into the Manchester City Region Economy.
   
• Trafford Park, Europe’s largest industrial park. Following a decade of regeneration through concentrated investment, it is now home to over 1,400 companies employing in excess of 40,000 people.

WHERE WE WANT TO BE IN 2021

Trafford already has a strong and robust economy, but we want it to be the strongest in the Manchester City Region by 2021. By this time, we aim to have enhanced our high performance and sustainable economy to provide a powerful contribution to regional growth and encourage an ethos of enterprise from every individual, community and business in Trafford.

Trafford will

• Be at the forefront of new employment creation
• Be renowned as the Enterprise Capital of the North West
• Harness and grow the enterprise and skills potential of all its residents and businesses whoever and wherever they are in the Borough

WHAT WE WILL DO TO GET THERE

Eight strategic priorities have been identified to help deliver the vision for 2021. Collectively they provide a framework that will be used by the Trafford Economic Alliance to shape longer term thinking and influence longer term investment decisions.

Our eight priorities are inter-related and play equally critical roles in ensuring the sustainable long term economic development of the borough

• Growing our Key Business Sectors
  By capitalising on and growing Trafford’s key business sectors, we will ensure that they have the right economic conditions, business support and skills, to drive up productivity, wealth and jobs in Trafford.
   
• Growing and supporting enterprise
  Ensure partners recognise Trafford as the Enterprise Capital of the North West and direct resources accordingly.
   
• Releasing the potential of all residents
  Work together more effectively to support individuals especially in the more disadvantaged communities, reducing incapacity benefit claimants and increasing economic activity rates.
   
• Developing the right skills for the economy
  Address skills shortages, particularly at NVQ Level 3, closing the skills gap and encouraging workforce development in growth sectors.
   
• Developing our land and premises
  Identify and promote appropriate site development opportunities and make the most of our local Gateways.
   
• Enabling investment in our infrastructure and transport
  To lobby and influence local and national Government Transport Planning, expand the Metrolink, improve east - west connectivity and reduce congestion.
   
• Creating vibrant town centres
  To support the right type of development and investment in our town centres to encourage their individualism and increase their vibrancy. In Altrincham ‘The Big Screen' is set to make a welcome return to the town centre, in what will be a state of the art, local attraction. The town Centre of Urmston will undergo major re-development that will see a mix of quality retail and residential space to benefit businesses and residents alike. Stretford Mall can also look forward to the benefits of further investment.
   
• Leadership and profile
  Use our cultural and sporting iconic attractions and economic assets to further build the profile of the Borough on the local, Regional, National and International Stage.

PRIORITIES FOR 2006-09

Moving forward over the next three years there are three core challenges:

1. Growing pains...
Even a highly successful economy needs careful management. As the economy
continues to grow, we will:

• Ensure that there is a suitable supply of workers with the right skills profile.
• Invest in the transport infrastructure to ensure an efficient flow of workers, customers and goods.
• Balance the competing demands for development (housing, industrial and commercial) with retention of the Borough’s hallmark quality of life.
• Provide more ‘grow-on’ premises for businesses as they grow and mature so that they chose to remain in the Borough.

2. Tackling pockets of disadvantage...
A strong and robust economy brings with it many opportunities. These need to be more effectively distributed across the Borough, ensuring that they reach the most disadvantaged areas and minority groups.

To do this we will:

• Tap into the skills and enterprise resources in these neighbourhoods and communicate opportunities effectively.
   
• Use mainstream services, sub-regional partners and Trafford business assets to address poverty and opportunity.

3. Raising profile and recognition

• This will be achieved by developing the leadership role of partners, businesses and individuals to ensure that Trafford continues to build up its high performance economy and is recognised as the jewel in Manchester City Region’s crown.

HOW YOU WILL KNOW THAT WE ARE SUCCEEDING

We will have:

• More jobs and wealth generated in our key business sectors. (Measured by increased job density and GVA in key sectors)
   
• More new business start-ups and better survival rates than anywhere else in Greater Manchester. (Measured by increased VAT registrations and % survival rates)
   
• Less people out of work in our more disadvantaged communities. (Measured by increased economic activity rates in these communities/reduced unemployment rates)
   
• More people qualified with the ‘right skills’ to meet the needs of employers, particularly at level 3. (Measured by proportion of working age residents qualified to level 3 or above – Number of companies that have funded off the job training for employees)
   
• Increased number of appropriate ‘projects’ and developments locating in Trafford. (Measured by % increased take up of available land for employment use development)
   
• Metrolink expansion through Trafford Park to the Trafford Centre. (Measured by physical completion of Metrolink)
   
• The successful completion of the re-development of all of our Town Centres. (Measured by quantifying the investment value in each town centre by 2021)
   
• Overall, Trafford will be recognised as the jewel in Manchester City Region’s crown, by regional stakeholders, decision makers and investors. (% increased in the level of mainstream agency investment in Trafford)

To evaluate the successes and progress in meeting these priorities, Trafford Economic Alliance will agree an Economic Monitoring Framework, including measures already collected by key strategic partners and detailed in the Greater Manchester Economic Development Plan.

A sustainability appraisal will also be produced for economic development in Trafford. This will provide regional and sub regional information down to a Trafford level.

If you wish to find out more about the work that is being undertaken in Trafford or get involved, please contact:

Debbie Thompson
Principal Economic Policy Officer Economic Development
Trafford Town Hall,
Talbot Road Stretford,
Manchester, M32 0YT