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Core Strategy Preferred Options document - Amazon Web Services

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Strategies, Activities and Actions – Economic Development<br />

Business enterprise in<br />

the District is largely<br />

made up of smaller<br />

firms, with nearly<br />

three-quarters of<br />

businesses employing<br />

between 0 and 4<br />

people. This is above<br />

the national average.<br />

An Eco-Enterprise<br />

Centre would:<br />

• act as an inward<br />

investment draw<br />

• be a tool to help<br />

generate higher<br />

value jobs<br />

• help to instigate<br />

change in the<br />

standards of other<br />

commercial<br />

premises in the<br />

District<br />

• directly tackle<br />

issues of business<br />

sustainability<br />

• be located in an<br />

environmentally<br />

friendly, sustainable<br />

building.<br />

environment are provided by an internal team as well as sought from<br />

external networks and key partners providing relevant services.<br />

Incubation is a resource-intensive activity not intended to support<br />

businesses indefinitely. Incubation services help businesses to survive<br />

the particularly difficult first few years before they move on with increased<br />

chances of future sustainability.<br />

We believe that the establishment of an incubation or enterprise centre<br />

would help to reduce the consistently high number of business closures<br />

in the District, increase the chances of sustainability for the high number<br />

of indigenous start up businesses and act as a much needed inward<br />

investment draw, bringing new businesses to the area. The physical<br />

building would become a focal point for businesses in the District offering<br />

access to information, guidance, mentoring and involvement with the<br />

local business network.<br />

In order to achieve this, we intend to secure public funding which in turn<br />

will be used to lever private sector investment. In terms of delivering<br />

services on an ongoing basis, we will work in partnership with other key<br />

stakeholders and partners whose remit is to support and develop<br />

businesses in the District.<br />

The enterprise centre will be incorporated into employment allocations or<br />

an area action plan that includes increased employment opportunities.<br />

ED5 Eco-Enterprise Centre – <strong>Preferred</strong> Option<br />

We will work with the private sector to secure the delivery of an Eco-<br />

Enterprise Centre within an employment allocation or area action plan<br />

incorporating employment uses.<br />

The Eco-Enterprise Centre will be built to high environmental<br />

standards, meeting the BREEAM excellent standard for sustainable<br />

development.<br />

ED5 – Alternative <strong>Options</strong><br />

Option Why is it not preferred?<br />

Not to require the Eco-<br />

Enterprise Centre to be<br />

built to high<br />

environmental<br />

standards, only to<br />

conform to same<br />

standards as any form<br />

of employment<br />

development.<br />

50<br />

The Eco-Enterprise Centre has the potential<br />

to act as a flagship to not only economic<br />

development in District, but also as an<br />

exempla of sustainable construction. New<br />

businesses will also benefit from the<br />

reduced energy costs of operating in a<br />

building built to high environmental<br />

specifications. We hope that businesses<br />

starting in such a sustainable building will<br />

be encouraged to seek similar<br />

accommodation once they leave the<br />

incubation centre.

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