The Bromley Economic Partnership meeting scheduled for 11 June 2024 was set to cover updates on economic development services, partner activities, and a deep dive into inward investment. The meeting's agenda also included a review of the partnership's terms of reference and future meeting dates.

Economic Development Service Update

The meeting was scheduled to receive an update on the Economic Development Service, which includes several key programmes. The UKSPF Bromley Business Growth initiative, comprising the Suppliers Bromley programme, Growth Builder, Start-up Bromley, and the Bromley business hub, was to be discussed. The report pack indicated that while job creation targets were being met, job safeguarding targets were behind schedule due to delayed reporting. A new element, the Green Mark award, aimed at promoting carbon reduction and environmental management, was being piloted with 10 SMEs.

Additionally, an update on the Strategic Investment Fund was planned, focusing on the extension of a full fibre network to connect 21 Council sites by December 2024, with potential access for other public sector and commercial organisations, particularly in areas like Biggin Hill and the Cray Valley. The refresh of the Economic Strategy 2021-23 was also on the agenda, with a growth plan to be shared, followed by consultation and final approval later in the year. An update on the Town Centres – Night Strategy was also scheduled, detailing the success of Bromley's Night Time Enterprise Zone, which saw a significant increase in footfall during evening hours. The intention was to extend these benefits borough-wide through a new strategy, with a commissioned evidence base and consultations planned.

Deep Dive Topic: Inward Investment

A significant portion of the meeting was dedicated to a deep-dive on inward investment. The report pack highlighted that Bromley was perceived as almost invisible to West End agents and that there was a need for a stronger supply of commercial space. A presentation was expected from Adam Breeze of Breeze Strategy Ltd, who has extensive experience advising on inward investment. The discussion was anticipated to cover the changing landscape of inward investment due to global events, the evolving needs of companies, and the competitive market for locations. The report pack suggested that Bromley could improve its position by promoting its positive benefits and adopting a proactive, targeted approach rather than broad advertising.

Specific points raised in the report pack included the potential of Biggin Hill Airport as a focus for investment, with discussions anticipated regarding the possibility of limited commercial flights and the need for progressive planning policies. The report pack also noted that while Bromley is a large, wealthy, and well-connected borough, it receives a small fraction of London's inward investment projects. The need for a strong business case to justify expenditure on an inward investment team was also mentioned.

Partner Updates

The meeting was scheduled to include updates from various partners. Lee Thomas of Fairlight Group was expected to report on the struggles faced by many businesses and the need for improved productivity. Adrian Gabriel-Lovell, the new Jobcentre Plus Partnership Manager for Bromley and Bexley, was also set to introduce himself.

Terms of Reference Review

A review and update of the Bromley Economic Partnership's Terms of Reference was scheduled. The purpose of the Partnership is to champion Bromley as a place to work, study, invest, and do business, and to provide a forum for sharing data and best practices related to economic trends. The membership includes representatives from the public, private, and voluntary sectors, with a focus on seven key economic aspirations: Education and Skills; Employment Spaces; Helping Businesses Thrive; High Streets for the Future; Connectivity and Mobility; Enhancement of Tourism and Culture Industries; and Working Towards a Green Economy. The report pack outlined the meeting structure, quorum requirements, and decision-making process, noting that the Partnership is not a legal entity and decisions are reached by consensus.

Future Meetings

The dates for future Bromley Economic Partnership meetings were to be confirmed: Tuesday 15 October 2024, Tuesday 14 January 2025, and Tuesday 1 April 2025, all scheduled to commence at 4.00 pm.