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January– March 2016
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Quarter 4
Welcome to the first edition of the refreshed Norfolk Economic Intelligence Report.
This report brings together key business, economic and labour market intelligence to provide
a regular insight into the current state of the Norfolk economy.
0.5%
National Gross
Domestic Product
(% change Oct-Dec
2015)
0.5%
0.2%
7.9%
Interest Rates
(0% change March
2016)
Consumer Price
Index
(annual % change
to Feb 2016)
House Prices
(annual % change
to Jan 2016)
Source: ONS, Bank of England.
Employment
Norfolk in Summary

Overall, the labour market in
Norfolk is in a relatively good
position.

The county has a higher rate of
people in jobs (74.7%) when
compared to the national average
(73.4%), but lower than the
regional average (76.8%)

Unemployment level (5.3%) is also
lower than the national level
(5.4%), with fewer people out of
jobs when compared nationally, but
higher than the regional average
(4.2%)

The rate of claimants for main out
of work benefits (8.5%) is lower
than the national rate (9.2%).

However, Norfolk’s average salary
(£476.6) is lower than national level
(£529.0)

Norfolk ( £36,000) still lags behind
national level (£42,900) in labour
productivity (GVA).
Source: NOMIS.
Source: NOMIS.
Source: NOMIS.
Quick Links
Business
Infrastructure
Skills
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Support and events
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Business
Business Development Team: leads and
supports inward investment, business
growth and business support in Norfolk.
BUSINESS UPDATES
Tech Nation 2016
Norwich has been
identified for the 2nd year
running as having a
notable digital cluster,
contributing more than
£148m to the UK economy and providing over
5,300 jobs. The report, compiled by Tech
Nation, also recognised Norwich as being an
excellent location for business starts ups and
business support within the digital sector. For
more information visit www.techcityuk.com/
technation
Follow us on Twitter@Locate_Norfolk and
join over 5,735 followers keeping in
touch with what makes Norfolk so unique
for life, work and business.
Quadram Institute
Norwich
Research Park has
announced it is to
be home to the Quadram Institute, a new
£81.6m Food & Health research centre
due to be completed in 2018. The
Centre’s aim is to develop new and
innovative solutions to worldwide
challenges in human health, food and
disease. The hub will enable scientific
researchers to work alongside clinicians
which will also treat up to 40,000 Norfolk
and Norwich University Hospital patients
per year. To find out more visit
www.quadram.ac.uk
East Anglia ONE
Peel Ports, Great Yarmouth has been selected
as the base for the construction and installation
of the East Anglia ONE offshore wind farm. Up
to £5million will be invested in the port, ready
for the facility to begin supporting construction
work in 2018. To find out more visit
www.scottishpowerrenewables.com
taken on five new staff in the last two months,
at the same time improving efficiency and
introducing new production methods. We are
now able to diversify into new markets”
Growing Business Fund Case Study
A car components
manufacturer in
Lodden has won a
major contract with
Porsche after a
grant was awarded
to expand premises.
Panel Graphic received a £45,000 grant from
the New Anglia LEP’s Growing Business Fund
which has enabled the expansion, and
created a number of new jobs. The contract
with Porsche is worth in excess of €5m (£4m)
with Porsche over 8 years.
New Anglia LEP’s Growing Business Fund
offers grants between £5,000 and £500,000
covering up to 20% of total project costs, to
local businesses across Norfolk and Suffolk.
During the first quarter of 2016, 15 Norfolk
businesses have been awarded grants worth
over £600,000 that will create 70 new jobs.
For more information and how to apply for
funding visit www.newangliagrowthhub.co.uk
or email: [email protected]
Managing Director Steve Earl said: “We have
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Infrastructure
Infrastructure and Economic Growth
Team: supports growth and helps remove
infrastructure restraints in key areas such as
transport, housing and planning.
TRANSPORT
Northern Distributor Road (NDR)
The NDR began construction in January 2016
with the aim to reduce congestion and traffic
flow through Norwich. The road is due to be
completed by February 2018.
Greater Norwich
The Greater Norwich Growth Board
(GNGB) partners (Broadland District
Council, Norwich City Council, South
Norfolk District Council, Norfolk County
Council, and the New Anglia Local
Enterprise Partnership) are working
together to manage the delivery of a
joint Annual Growth Programme of
strategic infrastructure projects.
A47
The A47 Alliance met in January to discuss
progress on the projects being undertaken by
Highways England in the current programme
and to highlight priorities post-2020 (Acle
Straight and Tilney to East Winch for Norfolk).
Great Yarmouth Third River Crossing
The crossing forms a key part of the transport
and economic strategy for Great Yarmouth.
We are working with key stakeholders to
secure funding through a bid for newly
announced local major scheme funding from
government.
For more information about the Greater
Norwich Growth Programme see:
www.greaternorwichgrowth.org.uk/
delivery/growth-programme/
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Skills
Employment and Skills Team comprises the Apprenticeships Team, the Skills
Development Partnership and the ESF Facilitator teams. The focus is on raising skills
levels within Norfolk for the benefit of both the individual and the economy.
European Social Fund (ESF)
Skills Deals
£36m of ESF has been allocated to
New Anglia in the period 2014-2020, to
improve employment opportunities,
promote social inclusion and invest in
skills provision to help people fulfil their
potential.
Skills Deals is a competitive fund to
address skills gaps available from
Autumn 2015 to July 2017. It provides
50% of a project costs and is open to
all employers in Norfolk and Suffolk.
For more information or to apply for
Skills Deal funding please download
and fill out an Expression of Interest
form available from
www.newanglia.co.uk/skills/
Two facilitators are now in post to
promote access to the funds across
Norfolk and Suffolk and can provide
advice on developing a project. To
contact the facilitators email
[email protected]
How is Norfolk performing for Apprenticeship starts?
2014/15 (full year)
compared to 2013/14
16%
So far this year…
August 2015 - January 2016 (Q2)
Compared to 2014/15
Data source: FE Data Library
(Q2)
Map shows Apprenticeship starts for all ages/levels in 2014/15 (Q2 2015/16 in red)
10%
Norfolk is performing well!
Norfolk has seen a 16% growth in Apprenticeships for the full year 2014/15. This compares
to 14% nationally. Performance is very good for August 2015 to January 2016 (Q2). Norfolk is
seeing growth of 10% over the same period as last year, which is 9% above national. For
more information on Apprenticeships visit www.apprenticeshipsnorfolk.org/
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Funding Support
Economic Programmes Team provides
support to the Council and external
partners to access external funding, with
the aim of increasing funds spent in
Norfolk. It has specialist expertise in
European funding.
Current Funding Opportunities
Oil and Gas Taskforce Business Support
Scheme: [email protected]
Norwich4Norfolk New Enterprise small
grant scheme for Norwich businesses:
www.norfolkfoundation.com
LEADER starts to spend
The Norfolk LEADER programme, which
provides funding for rural businesses,
approved its first 4 projects in March 2016.
These are Flint Vineyard in Waveney Valley;
Panther Brewery and Squilla & Squidge
Catering in Wensum and Coast; and Sunset
Barn Care Farm in Brecks. Total LEADER
funding invested in these projects is
£147,231. More information is available at
www.norfolklags.co.uk.
Calls for projects for Interreg Europe open
on 5th April 2016 and close on 13th May.
Visit www.interregeurope.eu for more
information
Calls for the New Anglia Structural and
Investment Funds will be published on 11th
April 2016 at www.gov.uk/europeanstructural-funds
Ben Witchell, Flint
Vineyard
Calls for North West Europe Interreg
programme open on 18th April 2016 and
close on 27th May. Visit www.nweurope.eu
for more information.
CONTACTS:
DIARY DATES:
13th May 2016 - The Silver Pound: A golden
opportunity Conference, King’s Centre
Business:
[email protected]
19th May 2016 - France (Channel) - England
Launch Event, Denbies Wine Estate, Dorking
Surrey
Infrastructure:
[email protected]
24th May 2016 - Venturefest East,
Newmarket Racecourse
Skills:
[email protected]
9th June 2016 - Workshop on European
funding for Environment, Climate Change and
Resource Efficiency
Funding:
eufunding@norfolk,gov.uk
[email protected]
[email protected]
[email protected]
12th July 2016 - New Anglia ERDF
Programme event at Red Lodge Millennium
Centre
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