Economic development strategy
Wycombe District Council wants to create a prosperous and dynamic local economy that enables ambitious local companies to grow, attracting new investment and supporting economic development in a sustainable and inclusive way. We want to balance growth with improvements to quality of life securing investment in our town centres and villages to create high quality housing and attractive public realm and green space. We want our district to continue to be one of Europe’s most attractive suburban environments providing easy access to London and the benefits of proximity to the Chilterns’ area of outstanding natural beauty.
We want the district to appeal to a wide range of people, providing excellent cultural, leisure, sporting, retail and recreational opportunities and supporting active lifestyles. We also want to build on the strengths of our cultural diversity, making our district a welcoming place for visitors, enabling all our local communities to benefit from economic growth and share in prosperity. We want to be known as a ‘can do’ community; a connected community; a community that supports enterprise and welcomes creative people and entrepreneurial businesses. And we want to support the growth of a sustainable, low carbon economy that uses clean technology and adapts to the challenges of climate change.
Economic growth is influenced by three primary factors: population growth rates of economic activity and the productivity of employees and businesses. Productivity can be enhanced through investment in innovation, skills and technology.
Our district’s population is set to grow significantly over the next 15 years and the publication version of the local plan anticipates that 10,900 new homes will be built across the district during this period. Growth will be needed to ensure people can secure jobs; fewer are dependent upon benefits and that our companies embrace innovation and technology to boost their productivity and provide higher value products and services.
The district’s economic output in 2016/2017 by gross value added is estimated to be £5,462 million. We plan to set an ambitious growth target of just under 3 per cent a year over the next decade. The challenge is for Wycombe to become a £7 billion gross value added (GVA) economy by 2027. If we are to achieve that challenge Wycombe needs to offer an attractive environment for new business investment as well as a great place for people to live and work in and raise future generations. Our vision is not solely about making Wycombe economically competitive but helping it become a more successful place, with strong and cohesive local communities and a great quality of life.