EM3 Strategic Economic Plan

Innovation and ideas in new strategy will realise Enterprise M3’s economic ambitions

A vision to transform Enterprise M3 into a globally competitive region, unique for its knowledge, digital and design-based economy, has been outlined with practical steps.

‘A Strategic Economic Plan for the Enterprise M3 area 2018 – 2030’ sets out how an already-established national asset and economic powerhouse, can grow its economy by four per cent each year and add £39bn of GVA to the UK economy. Enterprise M3 already contributes 2.9 per cent of the UK’s annual economic output, clearly punching above its weight.

Our SEP (Strategic Economic Plan), identifies two ‘stimulants’ that will generate economic expansion:

• Digital and Data Technologies – incorporating the ground-breaking 5G Innovation Centre based at the University of Surrey which includes Vodafone, Huawei, O₂ and EE as corporate members, and also the National Cyber Security Centre at Royal Holloway University.
• The Clean Growth Economy – Siemens is working on an Energy Strategy for our region and there are plans to create an energy hub.

These will underpin Enterprise M3’s five priorities for economic expansion:

1. High value sectors for a globally facing economy.
2. Enterprise and innovation for scaling up high productivity SMEs.
3. Skills for a high value, high growth economy.
4. Connectivity for a 21st century advanced digital and low carbon economy.
5. Dynamic communities and sustainable growth corridors.

The plan also highlights how the Government’s four ‘Grand Challenges’ - The Ageing Society; Clean Growth; Future of Mobility; Artificial Intelligence and Big Data - from in the National Industrial Strategy are ‘Grand Opportunities’ for Enterprise M3.