Reading Economic Forum 2016 - summary slides

2016 Reading Economic Forum:

Using arts + culture for your profit

Who & what is Reading UK CIC? A partnership between Reading Borough Council + private sector

(Property, Academia, Investment, Retail, Transport represented on a steering board of 21 members)

Promoting Reading region’s Economy

Employment Recruit + retain

Public Profile

Opportunities for all

More info at http://livingreading.co.uk/readingukcic

So far in 2016…• Forbury Place phase 2 underway

• Thames Tower nearly finished

• Biscuit Tin @ Station Hill

• Primark

• Thames Valley Science Park construction

• Heathrow runway decision

• Royal Elm Park planning application

• Top in UK for inward investment

• Heathrow – global gateway post Brexit

• Thames Valley Science Park – inward investment innovation hub under way

• Vibrant town centre office culture – 3.7 m sq ft

• Gearing up to be regional exhibition and convention centre – on a scale of Birmingham

• INSIDE: exhibition Reading Prison – 44,000 visitors /

• Year of Culture: hundreds of events

• IKEA – over 300 local jobs

• Year of the business park

Performance indicators

• Joint best place to live and work (PwC Good Growth Index 2016)

• 2nd for productivity of staff (Centre for Cities 2016)

• Top 5 for wages, skills and dynamism but high for house prices (Centre for Cities)

• Highest density of tech business in UK (KPMG Tech Nation 2016)

Competing with the ContinentHow Reading compares with European counterparts

European top 25 city of the future for foreign investment (FT FDI Awards 2016)

Top 25 European city for high skill base (Centre for Cities)

Comparator cities – Antwerp, Malmo, Geneva, Basel, Aix-en-Provence

19th – employment rate

Overall ranks well for productivity, jobs, patents

Fares less well against benchmark group

A centre of creativityNesta’s Geography of Creativity 2016 report

Recognition • 2nd - increase in creative sector employment• 10th - total creative businesses• 11% - workforce employed in creative businesses• 75% of those jobs in software and digital sub sector• Impacting perceptions

Arts Council England Interface – UK’s biggest cultural brands On the map as a creative hub

Reading: An identity crisis?Why is place important? We surveyed 60 local businesses…

• 70% - strong identity was VERY important for recruitment and retention of staff

• 60% - Reading didn’t have a clear identity

• 100% - business has a role to play in creating Reading’s identity

• 82% - arts, culture and heritage can create Reading identity

>>> Place = identity = engaged staff = growing economy = profit for all

Full survey results

Complacency?

• Reading a regional success • Complacency a risk• An identified need to create an identity to – Recruit + retain top staff to Reading region– Grow investment opportunities in region– Raise profile of Reading region

We’ve got potential • Key findings from our earlier survey:

– Reading’s art and cultural offering is moving in the right direction - 78%

– There is more going on in Reading than first appears – you just need to look for it - 83%

– Reading’s lifestyle offering helps us to do business – 61%– The Reading Festival is a useful influence on Reading’s

reputation – 70%– Finding Henry wouldn’t do us any harm – 53% / Reading could

become known for Henry – 35%– Reading’s rivers could be a real asset to its reputation – 90%

What we achieved in Reading 2016 could be the start… a few examples

• Sir Roger Bannister, George the Poet, Lucy Worsley• NESTA’s Future Fest• Bompas & Parr & Nadiya Hussain• Zoonation, BalletBoyz & Neon Dance• Search for Henry I • Reading Abbey restoration underway• Artangel @ Reading Gaol• Light up Reading

There’s profit in the arts• More findings:

o Business and the arts should work together for the economy – 85%

o Reading’s Year of Culture has been a positive development for the town – 43%

o I am aware of the YoC but haven’t really engaged – 33%

o The arts could help develop an increasingly strong identity for Reading – 82%

Where does business fit in?• Reading needs – a new theatre, independent shops, events,

markets and festivals, live music and public art

• Business wants to describe Reading as innovative and cutting edge / artistic and cultural to – Recruit + retain– Grow their businesses

• 100% believe business has a role to play in fostering a stronger sense of place in Reading.

Reading UK CIC can help• We understand businesses needs to hit their commercial

goals• We can ‘match-make’ your goals with a suitable local artistic

organization• We can do it with no fee + no obligation• We can make it easy to

– Engage your staff– Promote your business in a positive light– Participate in our community

Your help• Businesses want and need more identity• Identity strengthened by arts, culture + heritage• Pledge to help us: contact– Nigel Horton Baker – Alex Brannen

• 30 minutes of your time & we’ll meet you for a conversation about how we can grow Reading for our joint profit

• Join our community- link to L/R• Still sceptical?

Here’s what Reading businesses have to say on the matter (