The Task and Finish Group received a presentation from Alan Denby and Carl Wyard from the TDA.  The presentation provided an economy overview, information on local businesses and the labour market.  The Board noted that NVQ levels 1-3 were roughly comparable across the UK but fell behind on level 4 upwards.  However, it was explained the apprenticeship pilot was starting to see an uplift in apprenticeships, particularly level 3 and above.  This was as a result of Job Fairs and Apprenticeship Fairs.

Travelling out of Torbay for work indicated residents earning are higher than workplace earnings which accounted for one of the reasons why people were willing to travel.  The presentation explained the commitment of the South West Local Enterprise Partnership and the economic challenges Torbay faces.  The Board was advised that a new Economic Strategy would be developed and that the Strategy would aim for Torbay to become a stronger and more resilient place and generate opportunity and prosperity for its community.  The Board was advised of recent business regeneration and opportunities for business growth.

Chairperson to sum up, identify next steps and the Board to form a recommendation on this theme.

Resolved:

The Board resolved to:

(i)            promote and support the Apprenticeship Strategy and the Apprenticeship Fair;

(ii)          support the drafting of the revised Economic Strategy which should be presented to a future Board meeting before submitted to Council for approval.   As part of the Strategy revamp the Board proposed that the local MP reviewed the draft to ensure it fitted with Government aspirations.

(iii)         that the TDA continues developing their working relationship with the Council’s Planning Department and supported the TDA exploring opportunities to ensure employment space in Torbay was viable.

(iv)         that the TDA undertakes further research on the migration of the 39 to 45 age group who move away from Torbay.