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Economic Strategy - The Vision

Birmingham - A World Class City

The City Council's vision is that of a world class city with a strong economy that offers all its citizens the opportunity for work and a secure, prosperous future. We want a thriving, multi-racial international City based on a healthy, growing economy. Dynamic and effective partnerships between the City Council and other agencies will be crucial in achieving the Vision during the coming years.

What is the Economic Strategy and why do we need it?

The Economic Strategy, published in 1998, is a dynamic set of policies and objectives that captures the broad range of issues and actions being taken across the City to support the regeneration process;

It sets out a series of priorities around three Key Areas of the economy. Although the areas are dealt with separately, in practice they are heavily linked;

The Strategy brings together the physical, financial and intellectual resources required to make Birmingham a world class city by encouraging the development of an environment that allows Birmingham's businesses to compete with the best in the world.

Key Areas of the Economic Strategy

Key Area One

• Developing People and Communities
• Raising the skills and qualifications of Birmingham people and improving their progression into jobs.

Key Area Two

• Improving Business Competitiveness and Diversity
• Encouraging the competitiveness and sustainability of our business, and the diversification of the City's economy.

Key Area Three

• Investing in Sustainable Development and Infrastructure
• Retaining existing businesses by offering a full range of land and premises opportunities and providing an economic environment that attracts new investment.

The Action Plan

The Vision is supported by an Action Plan, which identifies the key actions required to acheive the Strategy. It is reviewed on a regular basis to reflect the changing economic environment.

Progress will be monitored through an annual Economic Performance Indicators exercise, the results of which are included in a separate publication.

The City Council also publishes an annual Economic Development Programme, which details the specific actions to be undertaken by the Council as it's contribution to acheiving the objectives of the Strategy.