Renfrewshire’s Economic Strategy 2020-030

Renfrewshire’s Economic Strategy 2020-2030 sets out the ambitions and actions to achieve sustained, inclusive growth of the Renfrewshire economy over the next 10 years.

Its development has been led by the Renfrewshire Economic Leadership Panel, bringing together leaders from across the private and public sector, enterprise agencies and education and skills experts.

 

How is the Renfrewshire economy faring?

Renfrewshire has a strong economy. We’re home to more than 5,600 businesses and export £2billion of goods and services worldwide. There are key sectors of strength in manufacturing, construction and transport and storage and emerging sectors in creative industries, tourism and care.

A place of learning with a college and university, Renfrewshire has a high employment rate and excellent economic programmes, supporting employment and business growth. Connected by air, sea and land, Renfrewshire is open for business and the perfect place for inward investment.

We face significant challenges too, with a declining working-age population, many people economically inactive and employers reporting skills gaps and shortages, while too many businesses are not surviving their third year.

 

Our strategy

£1.4billion is being invested in innovation, economic infrastructure and skills across Renfrewshire and the economic strategy sets out how we will seize on the opportunities this investment brings.

The strategy considers the challenges to growth and details the steps we will take to achieve six strategic ambitions:

  • Add more than 9000 jobs to the economy
  • Add an additional £400million GVA per annum
  • Grow the working-age population by 5000 people
  • Reduce economic inactivity by 15% bringing 3000 local people into the workforce
  • Reduce by 60% the businesses reporting skills gaps and shortages impacting on performance
  • Grow Renfrewshire manufacturing GVA by 30%

 

Renfrewshire in 2030

By 2030, more people will live, learn and work here. Our inclusive economy will provide people with more secure earnings and greater earning power. An entrepreneurial culture will support new and growing businesses to succeed and education and skills provision will be aligned to the needs of the local economy.

Improved infrastructure will see better public transport and new digital connectivity. Some 5,000 new homes will create places for families to grow and people to prosper

Renfrewshire will be the beating heart of Scottish manufacturing through development of the Advanced Manufacturing Innovation District Scotland (AMIDS).

£274million of Glasgow City Region City Deal funding will improve transport links and create the conditions for economic prosperity, with the first opening road bridge over the River Clyde.

We are a place of culture and creativity, and Paisley Museum and the town’s cultural venues and outdoor spaces will be transformed, attracting more tourists and visitors to share in our story.

 

What happens next?

Developing the strategy has been a collaborative approach and achieving its ambitions will see private and public sector agencies continue to work closely together, with detailed action plans and sectoral sub-groups focused on manufacturing, creative industries, tourism, care, transport and infrastructure.

 

Download a copy of the strategy from the link below:

Renfrewshire Economic Strategy 2020-2030 (pdf)

 

 

Developing a world-class location for advanced manufacturing

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