SHBC’s Economic Development Strategy 2023-28 was agreed by the Executive on 14 March 2023. The strategy provides an ambitious road map for good growth and prosperity of the local economy from 2023 to 2028. It identifies opportunities for accelerated economic growth and resilience whilst, taking a proactive approach to mitigating the global, regional and local challenges impacting the Borough.
The Borough has excellent foundations for economic prosperity, and is a thriving place to live, work and visit. We benefit from a variety of different business sectors ranging from local independents to multi-national organisations. Earlier this year, Camberley was named the UK’s Top Town for Business by Enterprise Nation, recognising its outstanding support for entrepreneurial spirit something that the strategy commits to developing further.
The strategy is reinforced by an extensive evidence base which has identified a number of areas that we should focus on, for example supporting emerging high growth industries such as the film and creative sector, along with pharmaceuticals and health.
Councillor Shaun Garrett, Deputy Leader and Portfolio Holder for Transformation and Economic Development said:
“The Council’s Five-Year Strategy identified that a new Economic Development Strategy would be produced to support economic recovery and sustainable growth in the Borough and this action has now been delivered. As a council, we will now commence the delivery and implementation of this strategy.
Surrey Heath is very fortunate to be home to a huge variety of successful business, from large internationals to niche independents. Each one provides so much to our borough through the wide variety of services they provide, employment of our residents and keeping our High Streets vibrant. This economic vibrancy ensures Surrey Heath remains a great place to live and invest in.
The COVID pandemic accelerated change in the way all of us live and work and this coupled with the climate emergency and the changing nature of the local economy means businesses need to continually evolve to succeed and we will continue to support them to do this.
We’re aware from discussions with businesses that there is a requirement to nurture talent in the borough and ensure we have a skilled workforce. We will continue to support young people as they enter the workplace, building on the success of The Workshop located in The Square, Camberley. This excellent service provides guidance, training and job searching assistance to young people in the borough who are currently unemployed.
Surrey Heath Borough Council is committed to supporting businesses and I encourage you to contact the Economic Development Team if you have any questions on this new strategy: economic.development@surreyheath.gov.uk (link sends email).”
Shared Prosperity Fund – Key Projects
Surrey Heath has been awarded £1 million over three years from the Shared Prosperity Fund which will be used to support the Economic Strategy. This fund will enable a number of important economic development and regeneration initiatives to be accelerated. These will include enhancements to local green spaces, local arts, cultural, heritage and creative activities, sports, business support and networks and workspace schemes. Employment support, development and promotion of the visitor economy and support to decarbonisation will also be funded. All ensuring the borough continues to be a great place to live and invest in.
Key objectives of the Economic Development Strategy 2023/2028
- To accelerate gigabit connectivity across the borough.
- To raise the productivity and performance of the borough’s Small Medium Enterprises (SMEs) and their workforces.
- To optimise responses to inward investment prospects by addressing shortages of commercial space and encouraging the upgrading of outdated commercial property.
- To create the required economic conditions for accelerated achievement of net zero carbon emissions.
- To enhance Camberley town centre’s appeal as a thriving and attractive urban hub.
- To secure investment in transport infrastructure to reduce car usage, improve links from the villages to the town centre and enable comprehensive active travel.
- To advance the employment prospects disadvantaged residents and those living in the borough´s most remote locations.
Key Economic Development Projects 2023/2028
- Delivering inward investment and business retention
- Accelerating High Speed digital connectivity
- Boosting SME Skills, productivity and business performance
- Assuring the appeal and vibrancy of Camberley town centre
- Enhancing the economies of the villages and rural Areas
- Developing active travel infrastructure
Access the full Economic Development Strategy 2023/2028.
Find out more about our Economic Development team.