THE INWARD INVESTMENT

CHALLENGE – YORK’S RESPONSE

Katie Stewart

Head of Economic Development, City of York Council

The approach

The environment

Previous levels of resource available for inward investment not available

UKTI – UK First principle

Local Enterprise Partnerships– still finding their feet

The new approach

Being clear and HONEST about our proposition and market testing

Truly DIFFERENTIATING

Investing in our “front door”

Playing the “long game” – building the “VIB” relationship

The “quality” offer

Quality of life…that mixes 2000 years of history with a modern, cosmopolitan lifestyle…

York is Bing’s top place most Britons want to live two years in a row

Lonely Planet’s top 200 places to live

Quality of culture and creativity

York Art Gallery

City Screen York Picture House

…the creative and media arts sector that is the fastest growing in the city…

Shortlisted UNESCO City of Media Arts…

Quality people

1st city in the UK for human resources (Municipal Journal/Local Futures

Inward Investment Guide for England, 2013)

2nd city for talent (Santander Towns and Cities Survey, 2013)

7th highest skills levels in the country (Cities Outlook, 2013)

Quality business destination

Domain Ranking

Human Resources

1

Quality of Life 1

Business and enterprise

5

Growth in business stock

5

Skills 3

Labour market 1

Municipal Journal …Top 5 places to invest

Local Data Company, 20134th lowest vacancy rates

TownShop

Vacancy Rate %

12 Month Change

Cambridge 6 -0.4Kingston-upon-Thames

6.8 -2.4

St. Albans 8 -0.2York 8.4 -1.3Salisbury 8.5 -0.2Harrogate 8.6 -0.8Central London 9.2 -2Camden Town 9.4 0.1Ealing 10.5 -1West London 10.7 -0.3

Quality of economic growth

Private sector jobs growth – top in the region – 20% from 2010 to 2012

Economic growth set for 63% by 2030 (GVA), versus 59% nationally

Employment growth (FTE) set for 13% by 2030, versus 8.7% nationally

Quality of demandProjected demand of 250 homes per annum and 164,000 m2 of commercial space by 2030

Current backlog of housing demand (affordable – almost 4,000; new homes – 5,000) and B1a office demand

Quality of ambition

Top UK city economy (currently 4th)*

Top 10 European city economy (currently 12th )

Most digitally connected city in Europe

…by 2015

*Based on set of Huggins Competitiveness Indicators (2013)**Based on proxy of above indicators as for European

medium sized cities

Quality of service

A clear front door for incoming and indigenous investors

A “package of support” in finding premises, workforce and support locally

“Red carpet” service for welcoming our incoming investors

The example

The Hiscox exampleOctober 2011 – local agent receives inquiry

November 2011 – initial pitch

Winter/Spring 2011/12 – extensive business case work and business engagement

Summer 2012 – announcement

January 2013 – temporary offices

2015 – opening of flagship Northern offices

Local Agent

CYC and Chamber

initial pitch

Existing business

engagement

CYC teams working

alongside Hiscox teams