Views sought on strategy to support economic growth

Wokingham Borough residents are having a chance to help shape a strategy that supports the area’s economic growth.

The council is updating its Economic Development Strategy that sets out how it will keep improving the borough’s economic prosperity through to 2030.

The draft updated strategy is developed based on a thorough analysis of local economic performance data and insights from the council’s engagement with local business community and other stakeholders to understand business needs, economic issues and growth opportunities.

Residents are encouraged to read the full draft strategy on the council’s Engage Wokingham website, and give their comments by Tuesday 8 October.

Setting directions for future growth

Cllr Mark Ashwell, executive member for economic development, sport, leisure and the arts, said, “We’d like to thank our local businesses for sharing their views, which has been instrumental in shaping this round of consultation with residents.

“Our strategic location in the heart of Berkshire, together with excellent transport links to London and the wider South East, positions us well to attract inward investment. The recent completion of Shinfield Studio further fuels the growth of creative industry in the area. To elevate our economy to the next level, we must refresh our strategy and set clear directions for future growth.

“Residents will benefit from new employment, upskilling and training opportunities created from sustainable growth in our economy. It’s also vitally important that economic development is key to a quality, stable and healthy life for everyone.”

Four key economic pillars

The draft Economic Development Strategy outlines four key pillars supporting the borough’s economy - including economic and business landscape; people, work, skills and well-being; place, infrastructure and connectivity; and small towns and districts, local centres and shopping parades.

Priorities are proposed under each pillar to highlight how the council will achieve the overall vision for our economy.

The final Economic Development Strategy will go before the council’s decision-making executive by the end of this year. Following this, a detailed action plan to achieve these priorities will be developed.

Support for town and village centres

The council is also engaging with residents and businesses to develop a new strategy for supporting Twyford village centre, Wokingham and Woodley town centres.

The new Town Centre Strategy will set a clear vision for these three town and village centres, and guide how the council will support them to grow and thrive. It will become part and parcel of the updated Economic Development Strategy to support businesses of all sizes and types across the borough, whether they are chains or independents.