THEMES | Economy

Emerging Issues

Pressing issues affecting the future performance of the local economy continue to relate to the impacts of globalisation and emergence of a new, knowledge-based, economy. The implementation of actions to increase modern business floorspace availability, increase skills availability, improve local educational attainment/aspiration and raise entrepreneurship remain essential. 

Although these issues are addressed within the District’s Economic Development Strategy, further support is needed to ensure that relevant measures and actions can be implemented. Within these areas there is also a potential need to research/develop further actions which can:

• enhance the number and range of apprenticeships available in Derwentside;

• decrease the number of people in the workforce who do not hold any qualifications and/or have poor levels of numeracy and literacy;

• increase the number of people in the workforce with higher levels of vocational qualifications (NVQ Level three and above); 

• further increase the number and quality of business start-ups within the District. 

A review of the Concordat with the University of Durham is also to be undertaken. The District’s relationship with the University has produced some clear benefits to local businesses and Derwentside’s economy but progress on some projects has been slow. The Concordat needs to be re-assessed and re-focused in consideration of the needs, opportunities, priorities and capacity of both the District and the University. 

The outcome of the development of the Regional Spatial Strategy for the North East of England will have important implications for the District, particularly in terms of its ability to develop/resource housing, economic development and other infrastructure. This will directly impact on the ability of the District to attract sustainable investment, employment and consumer spending. Strong arguments are being put forward by other areas to secure Planning “allocations” within this regional strategy. It is therefore essential that an equally strong argument and voice is put forward in favour of Derwentside.