A bold and ambitious new strategy that will shape County Durham’s economy over the next decade and beyond has been officially adopted by the county council.
The County Durham Inclusive Economic Strategy sets a clear, long-term vision for the area’s economy up to 2035, with an overarching aim to create more and better jobs in an inclusive, green economy.
This week, members of our Cabinet agreed to formally adopt the document, which has been developed through County Durham Economic Partnership (CDEP).
The statement shows that County Durham has a strong and diverse economy worth £8.8 billion, with 14,000 businesses and significant strengths in advanced manufacturing and health and life sciences. However, it also highlights that between 2006 and 2020, the economy grew by only 26.8 per cent compared to a national figure of 49.8 per cent.
The Inclusive Economic Strategy seeks to overcome barriers in order to transform levels of growth and harness the county’s potential, with all partners actively working towards this shared vision.
The strategy has also been informed by feedback from residents, businesses and young people gathered during the Big Econ-versation, an extensive stakeholder engagement process which took place between February and April this year. This feedback was fed into the strategy during a series of workshops which were followed by a second, targeted phase of engagement.Source: Durham County Council