Although Walsall Council sits at the centre of local economic development activity and has primary ownership of the strategic framework, the Vision for growth should be broadly owned by partner agencies with a stake in Walsall’s economic fortunes. A partnership approach is required to build and maintain oversight over the many initiatives underway in the borough that support the frameworks’ strategic goals. The Council will put in place appropriate governance arrangements that will help to maintain an overview of progress of the framework actions and to support momentum on Walsall’s long-term progress towards its economic Vision. Governance will also be key to ensuring insight and intelligence is shared to help Walsall have a stronger shared understanding of the issues and progress, and that there is strategic pipeline planning and agreement for future investments. The governance arrangements will ensure representation from key partners, organisations and stakeholders, including officers of the Council, West Midlands Combined Authority, the West Midlands Economic Development Vehicle/Business Growth West Midlands, Walsall College, University of Wolverhampton, together with existing forums/boards including the Walsall Employment & Skills Board and the Walsall Economic Forum (which represents local businesses), plus major housing providers and major local investors/developers.
We will ensure that the strategy is well resourced by staff at the Council, working closely with the new Economic Development Vehicle. We will also explore different avenues to fund the strategy, including external funding or revenue streams which can support long-term economic growth.