The Bromley Economic Partnership meeting was scheduled to cover updates on economic development services, partner activities, and a deep dive into inward investment strategies. Discussions were also planned regarding the review of the Partnership's terms of reference and the economic outlook for Bromley.

Economic Development Service Update

The meeting was scheduled to receive an update on the Economic Development Service, including details on the UKSPF Bromley Business Growth programme. This programme encompasses several elements: the Suppliers Bromley initiative to foster supply-chain opportunities, Growth Builder for business expansion support, the existing Start-up Bromley for entrepreneurs, and the Bromley business hub. The update was expected to cover key performance indicators (KPIs) such as jobs created and safeguarded, and the introduction of the Green Mark award, which aims to promote carbon reduction and environmental management among small and medium-sized enterprises (SMEs).

Additionally, an update was scheduled on the Strategic Investment Fund, specifically concerning digital infrastructure. This initiative involves extending a full fibre network to connect 21 council sites across the borough by December 2024, with potential access for other public sector and commercial organisations, as well as priority areas like Biggin Hill and the Cray Valley.

The Economic Strategy Refresh was also on the agenda, with a growth plan for 2021-23 due for an update. This plan was to be shared at the Partnership's next meeting, followed by a consultation period over the summer and final approval in October.

A presentation was also planned on Bromley's Night Time Enterprise Zone. This initiative, which ran events throughout 2023, reportedly led to a significant increase in footfall during evening hours and attracted visitors from outside the borough. The update was expected to cover the development of a business toolkit, the installation of additional lighting and electricity supply, and the Good Work Bromley campaign, which aimed to promote high employment standards. The proposal to extend these benefits borough-wide through a new strategy, supported by commissioned evidence and consultations with businesses, residents, and night workers, was also to be discussed. The aim of this new strategy is to future-proof town centres by reducing reliance on retail.

Deep Dive Topic: Inward Investment

A significant portion of the meeting was scheduled to be dedicated to a deep dive into inward investment. This topic was to be introduced by Daniel Murray, LBB Head of Economic Development, following a forum with commercial agents and developers. Key issues identified from this forum included Bromley's low visibility among West End agents and the necessity of a robust supply of commercial space. A workshop was planned to address these concerns.

Adam Breeze of Breeze Strategy Ltd was scheduled to present on establishing an inward investment service for Bromley. His presentation was expected to cover the changing landscape of inward investment, influenced by factors such as Brexit, the COVID-19 pandemic, and global economic challenges. The presentation was anticipated to highlight the competitive market for locations and the need for Bromley to promote its unique benefits. It was suggested that a small, well-trained, and proactive team would be more effective than broad marketing efforts in targeting the right markets and intermediaries.

Discussions were anticipated regarding Bromley's potential to attract inward investment, with specific mention of Biggin Hill Airport as a unique asset and the need for progressive planning policies to facilitate development. The potential for limited commercial flights into Biggin Hill Airport was also to be explored, alongside the challenges posed by resident concerns regarding noise and the airport's expansion. The importance of developing the Cray Valley and town centres for potential quick wins and the need for collaborative efforts among partners were also expected to be raised.

Partner Updates

The meeting was scheduled to include updates from various partners, providing insights into their activities and the economic landscape. Lee Thomas was expected to report on businesses that have struggled in recent months and the need for improved productivity. Adrian Gabriel-Lovell was to introduce himself as the new Jobcentre Plus Partnership Manager for Bromley and Bexley.

Review of Terms of Reference

A review and potential updates to the Bromley Economic Partnership's Terms of Reference were scheduled. These terms outline the Partnership's purpose, which is to foster a collaborative and coordinated approach to economic development in the borough. The principal functions include championing Bromley as a place to work, study, invest, and do business; providing a forum for sharing economic data and addressing trends; sharing research and best practices; informing and influencing the Economic Development Plan; and coordinating borough-wide communications on economy, business, employment, and skills. The membership criteria and meeting procedures were also part of the Terms of Reference to be discussed.

Economic Outlook Update

The meeting was scheduled to include a summary of the economic outlook for Bromley. This was to be presented by Daniel Murray, LBB Head of Economic Development, and was expected to cover Gross Value Added (GVA) figures, employment by sector, town centre footfall data, business demographics, enterprise trends (business births versus deaths), and funding received from Innovate UK. The presentation was also anticipated to include an analysis of office space availability and quality, as well as Foreign Direct Investment (FDI) data.

Previous Meeting Minutes

The minutes from the previous meeting held on 26 March 2024 were to be reviewed, along with any outstanding matters.

The meeting was scheduled to conclude with a review of future meeting dates.