3.0 Context
The Economy
3.1
Bassetlaw forms a vital part of the wider Nottinghamshire and Sheffield City Region economies, and has a successful history of working in partnership to create the best conditions for economic growth in the District. The D2N2 LEP covers Bassetlaw and the Local Authority areas for Derby and Nottingham as well as those that sit within Nottinghamshire and Derbyshire. Meanwhile the Sheffield City Region Combined Authority includes the eight Local Authority areas of Sheffield, Rotherham, Doncaster, Barnsley, Bassetlaw, Bolsover, Chesterfield and North East Derbyshire. As a result, the District sees a substantial level of out-commuting to work by residents, although there is a significant amount of in-commuting of people from neighbouring authorities to work in the District. This means that Bassetlaw does not sit within a functional economic market area, different parts of the District are distinct in terms of business composition, strong business locations, growth sectors, assets and infrastructure, and have ties to different neighbouring authority areas1.
3.2
The performance of the local economy is a key driver that shapes Bassetlaw into a successful and growing location. Our businesses are an integral factor in creating and sustaining a diverse and strong local economy, and are essential to the continued prosperity of the District; to accelerate economic growth and to increase the District’s economic contribution to the northern, East Midlands and national economies.
3.3
Taking account of the current composition of the sub-regional economy, existing industrial specialisms and their potential for growth, five priority sectors have been identified by the D2N2 Strategic Economic Plan2 based on their high productivity and future job creation potential: creative and digital technologies; the visitor economy and leisure; construction, particularly modern methods of construction; renewable energy and low carbon energy production; and, engineering and civil engineering.
3.4
Much of the District’s traditional economic base (milling, heavy industry, heavy manufacturing, mining and power generation) have long since closed or are declining. In recent years the District has had to adapt and respond to changes in economic conditions at a national and regional level, and has made several successful steps towards delivering a modern industrial, logistics and service based economy.
3.5
The employment structure has changed over the past few years with growth seen in local manufacturing, transport and storage, finance and insurance and human health and social work (by 1000 jobs in each sector from 2015)3. Notably the existing manufacturing base accounts for 18.4% of Bassetlaw’s jobs - this is nearly twice the British average (8.5%) and higher than that for the East Midlands (12.9%)3 - making a significant contribution to the local economy by supporting a technical and highly skilled workforce. The logistics sector continues to grow, with significant investment taking place, and market interest evidenced, along the A57 and A1 corridors.
3.6
In 2018, the Bassetlaw economy supported 49,000 employee jobs; with almost 69.4% of these being full-time. The broad industry sectors of Manufacturing (18.4%), Wholesale and Retail Trade (18.4%) and Health and Social Care (16.3%) (ONS: 2019)4 accounted for the majority of employment.
3.7
But only an estimated 20.3% of residents are qualified to NVQ Level 4+, and only 29.1% residents work in high value managerial, professional and technical occupations5. Therefore, the District would benefit from having a greater proportion of highly skilled jobs, which could support high paid employment and reduce out-commuting, with associated benefits to the local economy.
Draft Bassetlaw Local Plan, November 2020
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