New strategy puts Norfolk at the forefront of the UK economy

Ambitious plans for Norfolk's economy have been unveiled in a new strategy to be presented to the county council's cabinet in November. 

The strategy seeks to build on Norfolk's influence in key sectors, including clean energy, agri-tech and cutting-edge research. 

Councillor Fabian Eagle, cabinet member for economic growth at Norfolk County Council said: 

"Norfolk is uniquely positioned to grow its economy and address some of the most pressing challenges facing the UK today, including food security, clean energy, and research and development. Our county's rich heritage, entrepreneurial spirit, innovation, and commitment to sustainability provide a strong foundation to tackle these issues head on. 

"To meet these challenges, we must focus on building up our local skills base, attracting inward investment and promoting ourselves on the national stage. 

"Our ambition should be matched by the government through continued infrastructure investments. It is equally important that emerging projects, particularly in the energy sector, are the right size, in the right places and with clear benefits to the local community." 

"At the same time, we must remember and celebrate what makes Norfolk great — its unique character, vibrant market towns, and the resilience of our local businesses. This is a plan for the whole of Norfolk, and it is crucial that it benefits everyone, ensuring that every community and individual can thrive in our shared future." 

Nick Steven-Jones, chair of the Norfolk Business Board and CEO of Jarrolds said:  

"Norfolk is brimming with potential and I am certain we can be key players in shaping the UK's economic future. In discussions with business leaders across the county, there is a collective drive to help Norfolk reach these ambitious goals. 

"Our region's strengths are well-recognised by those of us who call Norfolk home, and we have much to be proud of. Our county's potential needs to be acknowledged at the national level and become a fundamental part of the UK's economic plans. We will continue to work hand-in-hand with partners like Norfolk County Council to build an economic future that embraces inclusivity, sustainability, and innovation." 

Norfolk's Economic Strategy, also known a Local Growth Plan, sets out an overview of the local economy and key priority areas for economic growth. 

Norfolk is already at the forefront of some of the UK's most strategically important sectors. 

Norfolk is a global leader for offshore wind with £39bn of clean energy investment forecasted over the next 20 years. In Great Yarmouth, the new Operations and Maintenance Campus is expected to create 650 new jobs and new commercial space for the offshore renewable energy sector. This £24.8m partnership project is a collaboration with Great Yarmouth Borough Council, with enabling works well underway. 

Work is also underway to examine how to decarbonise the gas supply through the development of a 'Bacton Energy Hub', reusing existing North Sea assets for carbon storage, and blue/green hydrogen production. 

The local Agri-Food and Agri-Tech economy puts Norfolk at the epicentre of addressing challenges around food security and climate change. Norwich Research Park is a world-leading research base at the forefront of global food and health research. It is Europe's largest single site hub of research, training, education, and enterprise in food and health. 

Norfolk is already well known for a visitor economy which accounts for nearly 20% of all employment. The county was recently successful in bidding to become a Local Visitor Economy Partnership, alongside Visit East of England and Suffolk County Council. This put them on an even footing with the likes of Cornwall, the Peak District, and the Cotswolds who have the same level of Visit England accreditation. 

Major infrastructure projects continue to transform how residents and businesses get around. The completion of the Herring Bridge and the start of construction on the long-awaited Long Stratton Bypass will bring a major boost for the local economy. Norfolk has also seen year-on-year growth in bus passenger numbers and the introduction of a major electric bus fleet. 

The county council continues to push for improvements along the A47, with an ongoing campaign to improve connectivity and safety through further dualling in key areas. 

Norfolk has built an increasingly enterprising culture, supporting residents to start up their own business, and for new start-ups to survive and thrive. Norfolk has a better than UK average for survival of new businesses at 63% after 3 years, compared to the UK average of 56%. 

New Anglia Growth Hub acts as the 'front door' for local businesses looking for support. Over the past 10 years, the Growth Hub has supported over 14,000 businesses with free, impartial support and advice. 

The Economic Strategy will be considered by Norfolk County Council's Cabinet on Monday 4 November. You can watch the 4 November Cabinet meeting, live or afterwards, and read the reports online. 

The report will then be taken to the council's scrutiny committee and a full council meeting in December.