Economic Development Strategy & Action Plan 2024 - 2028
This Economic Development Strategy is guided by an overarching vision for South Kesteven's economy in 2028 to articulate its economic potential and growth opportunities.
South Kesteven has a thriving, innovative and diverse economy and is recognised as a great place to live, visit, invest and do business.
The District's economy is growing strongly, increasingly based upon knowledge-intensive services, generating high quality jobs, with productivity levels well above the regional median and wages above the national average.
This new economic vision responds to identified weaknesses and challenges to growth such as relatively low workforce productivity, pockets of economic inactivity and earning disparity amongst some communities in South Kesteven.
The vision builds upon existing strengths and unique assets where the District already has competitive advantage and where there is significant scope to use these assets to drive prosperity amongst South Kesteven's residents and businesses in the future.
The ambition is to optimise the area's economic credentials to lead the way within a competitive environment, secure the infrastructure investment needed to realise South Kesteven's potential and deliver a step change in economic performance and prosperity. The aim is to reach and benefit all parts of the community in a genuinely inclusive and sustainable way, so that no one is left behind.
Reflecting the enabling economic growth golden thread running through all aspects of Council activity and service delivery, the overall economic ambition complements the five priorities set out in the South Kesteven District Council Corporate Plan which are for the authority to:
- Continue to engage with all communities to support a thriving society that all our residents are proud to be a part of
- Meet the challenge of climate change with a renewed energy, championing our district to be a clean, green and healthy environment for future generations
- Support business and work with partners across all sectors to create the right conditions to support a dynamic, resilient and growing local economy, which fulfils the potential of the district and benefits all our communities
- Ensure all residents can access housing which is safe, good quality, sustainable and suitable for their needs and future generations
- Deliver the trusted, high quality and value-for- money services our residents expect and deserve
The Economic Development Strategy focuses on five areas where it is believed the Council is likely to have greatest influence to overcome key challenges to economic prosperity and set a path to achieving the vision for South Kesteven in 2028, as follows:
- Business, job creation and employment safeguarding
- Skills development
- Inclusive growth and regeneration
- Inward investment
- Enhancing South Kesteven's tourism and visitor economy offer
