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A new economic strategy for Suffolk aims to build on the county's renewable energy and nuclear power sectors to expand its role in clean technology. The plan seeks to attract £4 of private investment for every £1 of public funding.
Why it matters: The strategy positions Suffolk to play a larger role in the UK's transition to clean energy, building on existing offshore wind and nuclear projects. The plan comes as regions across Britain compete to attract investment in sustainable technologies.
The big picture: The plan, dubbed EPIC Suffolk, sets ambitious targets for 2045, including:
An additional £14 billion contribution to the economy
45,000 more people qualified to Level 3 (A-level equivalent) or higher
35,000 more people joining the workforce
Higher average wages across the region
Key sectors driving growth:
Clean energy, including offshore wind and nuclear
Agri-food and drink, focusing on sustainable practices
Ports and logistics serving as critical UK trade gateways
Technology, particularly in areas where digital, AI, and clean tech converge
Challenges ahead: The strategy's success will depend on significant private sector investment, workforce development, and improvements to local infrastructure. The plan acknowledges that substantial investments in housing, digital connectivity, and transport networks will be needed.
What they're saying: "This strategy is all about boosting opportunity and growth as we plan a massive collaborative effort to secure a prosperous and sustainable economic future for Suffolk," said Mark Pendlington, Chair of the Suffolk Business Board.
Behind the scenes: The strategy has been developed by the Suffolk Business Board, which was established in May 2024 following the closure of the New Anglia Local Enterprise Partnership. The board includes 17 members representing business, education, voluntary sector and local government.
What's next: Suffolk County Council's Cabinet will review the strategy on Tuesday 3 December 2024.
The bottom line: While Suffolk's new economic strategy sets ambitious targets for clean technology and sustainable growth, its success will require substantial private investment and significant improvements to local skills and infrastructure.
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