Monday 6th February 2012 5.25am
Post your Events Economic Masterplan Launched
People and businesses are to give their views on how Sunderland's economy should develop between now and 2020.
How must the city economy adapt following the downturn? What strands of the city's economy offer the best prospects for the future? How can more new businesses be grown?
These are just three questions being posed as part of a city-wide study to help guide the development of Sunderland's economy in the future.
Sunderland City Council has appointed a consortium led by Leeds-based consultants GENECON to develop this Economic Masterplan. A timetable of opportunities for comment and thoughts on the city's economy is now being drawn-up. It will include meetings and workshops over the next year.
Cllr Paul Watson, Leader of Sunderland City Council, said: "Sunderland has seen unparalleled changes to its economy in the last decade and some of the best growth rates in the country.
"Like everyone else we are now going through difficult times, but to keep improving we have to look ahead. We can guide this development in the future with an Economic Masterplan that has studied Sunderland's economy and looks at what is required to ensure a more prosperous future."
The Government has instructed councils to take responsibility for their local economies and do more to shape them. Newcastle and Gateshead have been developing their own Economic Masterplan and other large cities, such as Sheffield, have completed major studies.
The council has been actively helping shape Sunderland's economy since the early 1980s. Between 1996 and 2006 the city attracted more inward investment jobs than any other location in the North East - in some years more than the rest of the region put together.
Cllr Watson said: "An Economic Masterplan is going to help guide Sunderland over the next 20 years so that we can promote prosperity and move Sunderland further up the national league tables in employment and economic growth."
GENECON's work will include a series of high level workshops to develop a vision and set of challenging objectives for Sunderland's future economy. Business leaders are taking part in workshops and residents will be invited to give their thoughts.
David Tuck, GENECON's Managing Partner, said: "This is a critical time for Sunderland's economy. This Masterplan needs to give clear direction for public and private sector investment to support the city's long-term competitive position. We will develop the Masterplan based on realistic ambitions for the city that can secure lasting change and ensure Sunderland plays its part in the region's renaissance."
GENECON has already worked with urban regeneration agency Sunderland arc and on projects in Middlesbrough, Stockton, Sheffield, Leeds and Bradford.
The Government has granted the council £190,000 towards completing the work and regional development agency One North East has a seat on the Masterplan's steering board.
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