Economic Development Strategy

Summary

Introduction

The Council prepares a strategy statement setting out its proposals for the promotion of economic development of its area and the resources to achieve them.

Background

Vision "The creation of a vibrant Fareham economy providing a variety of opportunities for employment and business growth with a superb town centre, wide range of leisure opportunities, good choice of quality housing and a high quality of life and environment".

Theme "Fareham, the Heart of South Hampshire".

Economic Development Strategy 1999-2006 - Overview

The Overview groups the economic development activities of the Council into three broad categories:

• Focus on Fareham People First
• Focus on Fareham Business First
• Focus on Sustainable Fareham Infrastructure

Programme

The programme emphasises a number of issues that help to advance the economy of the Borough:

• Building upon Fareham's emerging advantages as a telecommunication hub
• Creating opportunities for the start-up and growth of new businesses, and in particular businesses exploiting new technologies
• Seeking to maintain a low rate of unemployment
• Seeking to secure investment that will attract businesses that exploit new technologies
• Implementation of town centre infrastructure
• Continued support for town centre management
• Continued support for partnership organisations benefiting Fareham
• Maintenance of a comprehensive business database
• Promotion of local inter-trading (including an information service free to Fareham firms)
• Targeted visits by Officers to understand more fully the concerns of Fareham firms
• Ongoing review of promotional materials and updating as appropriate

Budget

The budget for economic development activity, including town centre management and tourism marketing for 2006/07 is £110,700.