City
Growth is a radical new approach to economic
development that aims to put business at the
heart of inner city regeneration, bringing
to life the competitive and economic potential
of disadvantaged areas.
City
Growth is not a stand-alone solution to regeneration.
It complements existing local initiatives
and gives the private sector the lead in creating
and developing the strategy. The Initiative
is based on a model developed by Professor
Michael Porter from Harvard University and
is driven by government’s commitment
to addressing disadvantage through the growth
of enterprise.
Seven
City Growth pilot programmes were launched
in the UK in July 2001 and following their
success, a second phase of 10 cities was launched
in 2004. The City Growth Luton Strategy will
define an economic regeneration strategy and
action plan based around cluster development.
The Strategy will also outline implementation
plans.
The
vision for 'City Growth
Luton 2012 and beyond',
is a dynamic town built through
capitalising on opportunities
for growth, nuturing its business
and communities; exploiting innovation;
providing an enabling environment;
and driving for success. City
Growth Luton Objectives are:
Formation
of a business-led strategy
board
To
develop competitive clusters
To
be a catalyst in raising the
business capacity in Luton
in order to increase wealth
and reduce deprivation
To
enable partnerships, agencies
and businesses to work together
to challenge the traditional
perception of Luton
To
raise awareness of the city’s
potential as an attractive
and desirable location for
business investment and new
jobs
About City Growth Luton
