Economic development in and around Colchester
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How we deliver economic recovery and growth
Strategic partnerships: delivering economic recovery and growth
Colchester's economy is doing relatively well thanks to some really effective partnerships which support it.They facilitate regional collaboration, align with strategic growth sectors and enhance the city’s appeal for businesses, residents, students and visitors.
The North Essex Economic Board (NEEB)
Our partnership with the North Essex Economic Board (NEEB) aims to bolster Colchester's economy and the wider region by enabling collaboration between councils in North and Mid Essex to promote economic development and investment.As a member of NEEB, we are able to shape and influence the strategy and initiatives that are designed to help local businesses grow and succeed. Inward investment, transport, skills and business support are all key NEEB workstreams.
Essex County Council
Essex County Council's 2022 Sector Development Strategy highlights five key economic sectors for growth in Essex. We have adopted these sectors in Colchester’s Economic Strategy, recognising their potential to attract investment and create high-quality jobs for residents.These key economic sectors for growth are:
- construction and retrofit
- clean energy
- advanced manufacturing and engineering
- digitech and life sciences (including med-tech and care-tech)
The Our Colchester BID
The Our Colchester BID is one of over 320 BIDs across the UK.It works closely with its 400+ business members, stakeholders, visitors, residents and students to make the city centre a better place to work, live and visit.
The BID's projects over the next five years will be targeted towards making Colchester a better place to work, live and visit by focusing on four strategic pillars:
- Memorable city
- A forward-thinking city
- A safe and welcoming city
- A connected city
Freeport East
Freeport East spans the east coast of Suffolk and Essex and is one of 12 new Freeports around the UK.Covering over a thousand square kilometres, it aims to attract investment and jobs while promoting innovation and decarbonisation, showcasing a model of a low-carbon regional economy while protecting and nurturing the biodiversity and nature that is a key part of our local geography.
Freeport East is anchored currently around three main development sites that offer a suite of investment incentives:
- The Port of Felixstowe
- Harwich International Port
- Gateway 14 near Stowmarket.
- a bespoke customs operations model
- better access to innovation
- regulatory support that can be applied to any site, anywhere across its geography to support increased trade and investment
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