County council publishes new economic strategy

Lancashire County Council has published a new three-year strategy to help encourage growth and prosperity and to maximise the potential of the National Cyber Force headquarters which is set to bring in £20bn of investment.

The strategy covers 2023 to 2025 and outlines the council's immediate and medium-term priorities, including supporting the local business community and improving skills provision.

This includes a re-think business support, which would be focused on areas of highest impact and delivered in partnership with district councils, funded by the UK Shared Prosperity Fund and Lancashire County Council. It will also see a focus on supporting innovation, and updated propositions which better suit the county's strengths.

The document has been designed to complement work with local government partners and other key stakeholders in the development of the sub-regional strategy ‘Lancashire 2050’. It includes the development of a Lancashire Infrastructure Plan to better integrate infrastructure and economic development opportunities including the development of growth corridors and clusters.

The council will continue to support a range of major development projects across the county including major transport and digital infrastructure, local town and city regeneration plans, four enterprise zones and the National Cyber Force headquarters, a total programme estimated to be in the region of £20bn.

The county council will take the lead on strategic development projects along with the majority of Lancashire’s
transport pipeline, including Samlesbury Enterprise Zone, Preston, South Ribble and Lancashire City Deal, Lancashire Central strategic employment site at Cuerden and the Transforming Cities Fund delivering transport infrastructure in Preston city centre.

County councillor Aidy Riggott, cabinet member for economic development and growth said: "While there will undoubtedly be challenges ahead, the future of Lancashire's economy looks bright. Significant programmes of work that include multi-billion-pound developments and infrastructure projects are already in the pipeline, together with a mix of high-performing, well-established businesses, with long and settled roots in Lancashire.

"We have a unique opportunity over the next three years to capitalise on new industries and new business locations across the county, to secure high value jobs and encourage further investment. The creation of new, quality opportunities will also contribute to our wider ambitions for health, regeneration, making Lancashire somewhere people want to live, work and visit."

County councillor Jayne Rear, cabinet member for education and skills, added: "At the heart of this strategy are the hard working and innovative people of Lancashire. We know the importance of education and increased opportunities for adults to reskill and upskill throughout their lives to be able secure good jobs that also meet the needs of our local economy.

"We also need to prepare for our future employment and skills forecasts by increasing demand for higher level skills, with a growing need for digital, tech, cyber and low carbon sectors.

"By working collaboratively with employers and education and skills providers across Lancashire, we can realise the full potential of Lancashire’s businesses and assets and enable our people to maximise the opportunities on offer in our local labour market."