The Suffolk Economic Strategy is the first major milestone achieved by the Suffolk Business Board. It seeks to harness Suffolk’s unique strengths, including its thriving renewable energy sector and innovative, collaborative business environment, to transform the region into a hub for clean technology, long-term economic prosperity and competitiveness.
Our vision for Suffolk’s future is guided by EPIC Suffolk, a framework designed to support smart decision-making and ensure investments deliver the greatest impact. It is built on four key pillars:
- Economic wellbeing: Ensuring financial security and improved living standards for everyone
- Productivity: Driving innovation and economic efficiency
- Inclusivity: Making sure everyone has fair access to opportunities and benefits from economic growth
- Clean growth: Promoting environmentally-friendly development for a strong and sustainable future.
The strategy identifies several key areas for economic growth:
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High Growth sectors:
Suffolk is already a national leader in clean energy, with offshore wind and nuclear projects at the forefront. The county’s agri-food and drink sector is set to grow through sustainable practices and agri-tech innovation, while the county’s ports and logistics sector is a critical gateway for UK trade.
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Emerging and Value Growth sectors:
Suffolk’s technology sector also shows strong potential for growth, in areas such as ICT, digital creative industries, life sciences and financial services. Elsewhere, there are opportunities to further improve productivity and job quality in advanced manufacturing, construction, health and social care, and the visitor economy.
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Tech Convergence:
Suffolk has the potential to become a leader in Tech Convergence, where technologies such as digital, AI, clean tech, robotics and satellite applications intersect and integrate with existing industries, creating an environment ripe for innovation and growth.
To support Suffolk’s continued growth, the strategy places a strong emphasis on workforce development and infrastructure. Investments in skills, housing, digital connectivity, and road and rail networks will be critical to meeting the demands of a growing economy and ensuring that the region remains competitive in the global marketplace.
The strategy is underpinned by a comprehensive investment plan which aims to attract £4 of private investment for every £1 of government economic funding, including a multimillion-pound pipeline of projects to boost productivity, create jobs and attract new companies to Suffolk.
The Strategy will serve as a dynamic blueprint, guiding collective investment and efforts to support Suffolk’s businesses. It will address economic challenges while leveraging strengths and opportunities.
In drawing up the strategy, we considered the following points:
What do we want Suffolk to be?
- A higher performing, clean, productive and inclusive economy.
- The place where high-growth businesses with aspirations choose to be.
- An inclusive economy with the skills needed to futureproof our economy, where everyone benefits from clean economic growth.
- An international-facing economy with high value exports in goods, services and intellectual capital.
- A well-connected place: locally, nationally and internationally.
- A place with a clear, defined, ambitious offer to the world, which showcases the strengths as the UK’s clean growth region to the UK and beyond.
- A centre for the UK’s clean energy sector.
Our approach
Suffolk’s Economic Strategy has been developed by the Suffolk Business Board in collaboration with businesses, partners and stakeholders across the county.
Mark Pendlington, chair of the Suffolk Business Board, said:
“This strategy is all about boosting opportunity and growth as we plan a massive collaborative effort to secure a prosperous and sustainable economic future for Suffolk.
“It reflects the views of many hundreds of leaders from across business, local authorities, education, health and the voluntary sector, all of whom have shared their ideas and expertise, and have been very clear about the challenges and opportunities we face.
“We all recognise Suffolk’s role as a key driver of the UK economy and are determined to promote Suffolk as one of the best places in the country to live, work, learn and invest.”