The local economy

The Borough has a growing economy, and is home to a 400 company strong marine energy supply chain with over 50 years of offshore experience. Funding has been sourced through the New Anglia Local Enterprise Partnership with two sites, South Denes and Beacon Park gaining Enterprise Zone status helping to grow and develop business for the Borough.

Download the  profile of the Borough (PDF) [870KB] (opens new window)  that covers:

• the local economy
• the labour market
• local demographics

Our  Economic Strategy 2020-25 (PDF) [2MB] (opens new window)  sets out the Council's approach with partners to supporting the growth of the local economy until 2025. The strategy outlines the key sectors best placed to deliver new jobs in the borough, the exciting infrastructure and investment prospects, and the challenges being addressed.

Alongside tourism, they are:

• Oil and gas, including decommissioning
• Offshore wind
• Port and logistics
• Advanced manufacturing and engineering
• Marine science and surveying
• Boat building and repair

Supporting businesses and the wider supply chain, the Taskforce stands ready to help and advise businesses across Norfolk and Suffolk that are affected by the challenges facing the oil and gas sector.

Established by New Anglia LEP (opens new window) and working with the East of England Energy Group (EEEGR) (opens new window), Taskforce members include Brandon Lewis, MP for Great Yarmouth, Peter Aldous, MP for Waveney, Norfolk and Suffolk Chambers of Commerce, as well as local authorities, members of Government and Jobcentre Plus.

The Taskforce has commissioned energy experts Nautilus Associates to carry out market research to gain further insight into the problems companies are facing. Nautilus will continue to speak directly and confidentially with companies over the coming weeks.

This research will feed into the New Anglia Growth Hub (opens new window) which has business advisers ready to offer free and impartial face-to-face support. Businesses can contact the Growth Hub advisers by phone or online.

The Growth Hub can be contacted by phone on 0300 333 6536 or by email.

For those individuals affected by redundancy, Jobcentre Plus is on standby to help identify alternative employment and make sure their valuable skills are not lost.

Lynn Rolland, District Partnership Manager at Jobcentre Plus can be contacted by phone on 01603 248667 or 07920 727154 or by email.

The goal is to make sure the longstanding oil and gas industry has a sustainable future, as well as to help businesses and employees take advantage of the opportunities available across the whole energy sector, building on our existing assets of offshore wind and decommissioning.