Vision and strategic priorities
“Maximising the unique strengths of the local area to help create a resilient, dynamic and inclusive economy that fosters sustainable growth. ”
During the early 2020s, the local economy has been impacted by a series of national and global events. We have worked closely with local businesses to ensure that we have managed to avoid the very worst impacts of these events, and it has demonstrated that we are fortunate to have a resilient and dynamic business community. This is something that we need to build upon in order to provide greater protection against any future challenges.
We also need to ensure that everyone sees the benefit of improvements in our economy, and that no- one is left behind. By being inclusive in our approach, we can help to increase skills levels and reduce unemployment through helping to create local opportunities.
Reducing our own carbon footprint, and encouraging others to do the same, is a central part of our Climate Change Strategy. In line with the aims and objectives of this strategy, we need to ensure that this Economic Development Strategy has a strong focus on sustainable growth that can reap benefits for our businesses and positively impact future generations.
With these key elements to our vision in mind, 7 themes have been identified that make up our approach in this strategy:
Theme 1: Promoting the borough
Tonbridge and Malling borough has lots of great things to shout about, and a wide range of successful businesses across a number of sectors. By promoting the area, as part of a wider West Kent initiative, it will help to increase investment, attract visitors and help to foster a stronger identity that will help to support our business community.
Theme 2: Supporting local business
Starting or growing a business is no easy task with just under 40% of businesses failing to last three years and nearly 90% of businesses in the borough being classed as ‘micro’. The council and partner organisations can offer areas of support to business, such as establishing advice and mentoring programmes, providing grant support and running events that support networking opportunities or enable businesses to find new members of staff.
Theme 3: Land and premises (and supporting infrastructure)
The adoption of a Local Plan that identifies new employment sites is key to ensuring that existing businesses and inward investors have the room to grow and are supported, where required, in that journey. There are also a number of strategic investment sites in the borough that are vital to the strengthening of the local economy, and it is therefore important that the council engages fully with these to ensure that they are delivered in a timely fashion and offer the maximum benefit locally.
Theme 4: A greener more productive economy
Whilst growth is clearly important, it is essential that the economy de-carbonises in order to reduce its impact on the environment and mitigates against the worst impacts of climate change. A growing economy can be a green economy: between 1990 and 2019 the UK reduced greenhouse gas emissions by 41% while the economy grew by 78%.
Many businesses are well-advanced on their journey towards5Net Zero, reaping the benefits of greater efficiencies and shielding themselves from the volatility of the energy markets, but others still need support along the way. There are also new challenges such as making sure that there are sufficient skills locally to enable the decarbonisation of the economy and our homes, and the support infrastructure is available to enable growth in the use of electric vehicles.
Theme 5: A thriving rural economy
The borough is mainly rural in nature, and as such our rural businesses play a strong part in the overall performance of our local economy. As well as fantastic land-based businesses, institutions such as East Malling Research Station (NIAB EMR) and Hadlow College (part of North Kent College), there are a diverse range of innovative rural businesses covering a range of sectors. With recruitment challenges and the loss of some funding sources, it is important that we offer support to contribute towards a flourishing rural economy.
Theme 6: An inclusive economy
Despite Tonbridge and Malling being perceived as affluent, not everyone enjoys equal access to opportunities. This is best illustrated by the variation in unemployment rates and deprivation indices across the borough. We will collaborate with local schools, the Department for Work and Pensions (DWP), Kent County Council and community organisations to create opportunities that contribute towards a more inclusive society.
Theme 7: Vibrant town centres
High streets are the beating hearts of our towns, and in recent years they have had to deal not only with the impact of economic downturns and the covid-19 pandemic, but also the shift in spending behaviour as online retailing expands. We will support our town centres as they adapt to change, to ensure they are attractive places to socialise, shop and be entertained.