Major transport schemes should be positioned as growth and regeneration projects, where enhanced connectivity is part of a wider strategy to boost economic development, inward investment, housing and commercial development, jobs, skills and employment.
As in many other countries, the UK Government is seeking ways – in the context of constrained public finances - to boost productivity and competitiveness and get the UK’s many different regional economies firing on all cylinders. This will only happen if we maximise and realise the transformational impact of some of the major capital investments in transport that have been announced. This won’t happen by adopting an “if we build it, they will come” approach; we need specific plans that respond to local realities and latent potential. Growth corridor plans are the best way to define and deliver this much needed economic development.
The theory – connection, density, opportunity
In the modern economy there is an important link between economic growth, agglomeration and connectivity. Major transport improvements enable firms to access a wide pool of skilled workers, and connect people to a wide range of good jobs. They support higher densities of economic activity in major centres and innovation hubs, facilitating the transfer of knowledge within these locations and across a wider area. This creates a virtuous cycle, where high densities of firms (and other knowledge-producing institutions) lead to high productivity, attracting in turn more firms to the area, increasing wages and job opportunities which in turn become pull factors for highly skilled workers, residential and commercial development, leading to further productivity gains. Transport can also boost economic competitiveness by providing access to major international gateways of ports and airports, and by supporting industrial and energy supply chains through the movement of freight.
What makes a successful growth corridor plan?
Based on our experience we propose five pointers towards impactful growth corridor plans.
1. Articulate a clear economic vision
There should be a coherent strategy for how transport can help boost economic competitiveness and growth for the corridor. This could set out the role of enhanced connectivity in strengthening the economic roles of main concentrations of business, innovation and employment, connecting people to jobs, supporting supply chains through better freight and logistics, growing priority sectors, and driving inward investment in line with the industrial strategy and local growth plans. By taking a whole corridor approach, a framework can be developed for realising benefits of capacity release on existing routes, and using local transport to connect people into the main hubs and spread the benefits.
2. Unlock transport-focused development and regeneration
A proactive approach is needed to planning for housing and commercial development and good quality place-shaping around main hubs. By setting out clear spatial frameworks, and embedding these in planning policy, places can send clear and consistent signals to the market and investors, and help coordinate wider public and private investment to accelerate the building of new homes and business space. This could include new settlements and urban extensions, as well as town and city centre intensification. Densification around transport hubs will strengthen demand for new rail, mass transit and bus services, and will enhance agglomeration.
London has shown the way with its opportunity area frameworks, linked to the London Plan. The reintroduction of cross-boundary strategic planning will enable similar approaches elsewhere in England through the new spatial development frameworks. Identifying the right delivery vehicles – which could include development corporations, will build confidence around implementation.