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Sheffield’s Economic Future: A Formal Overview of the Growth Plan

The City of Sheffield has unveiled a comprehensive growth plan outlining its economic trajectory for the next decade. This plan, recently endorsed by the Strategy and Resources Committee, is built upon extensive research and stakeholder engagement.

Core Tenets of the Growth Plan

The Sheffield Growth Plan is structured around four key missions:

• “Our Economy: Global, Green and Growing”: This mission focuses on expanding the city’s economy while prioritizing sustainability and job creation.
• “Grow Our Neighbourhoods Together”: This mission aims to ensure that economic growth benefits all neighborhoods and residents in Sheffield.
• “Sheffield: The UK’s Most Inclusive City”: This mission emphasizes creating an inclusive economy where all residents have the opportunity to thrive.
• “A City on the Move – Connected with the Infrastructure to Grow”: This mission centers on developing a robust and sustainable transport infrastructure to support economic growth.

Guiding Principles

Five key principles underpin the Growth Plan:

• Building on Sheffield’s unique assets and strengths.
• Ensuring fairness and prosperity for all residents.
• Fostering a strong partnership with the business community.
• Meeting environmental and climate ambitions.
• Promoting collaboration and partnership across all sectors.

Implementation and Delivery

The successful implementation of the Growth Plan hinges on effective collaboration among various stakeholders, including:

• Sheffield City Council: Providing leadership and coordination.
• South Yorkshire Mayoral Combined Authority (SYMCA): Aligning regional priorities with the city’s growth plan.
• Business Sector: Engaging businesses of all sizes in the city’s economic development.
• Voluntary, Community, Faith, and Social Enterprise Sector (VCFSE): Leveraging community expertise and resources.
• UK Government: Seeking national support and investment to achieve the city’s growth ambitions.

Investment and Outcomes Framework

A key component of the Growth Plan is the development of an Investment Plan (2025-2030) to guide resource allocation and attract funding. This plan will be reviewed in 2030 to ensure alignment with the long-term growth strategy.

Progress will be tracked through an outcomes framework that includes both output and outcome measures. These measures will assess the effectiveness of investments and inform future Investment Plan decisions.