What is an Economic Manifesto and why does Saxonvale need one?
To support our planning application, we submitted an Economic Manifesto detailing the potential economic benefits that our proposals for Saxonvale will bring to Frome.
The Manifesto demonstrates our scheme will deliver:
- 11,000sqm of new employment space
- The capacity to support 530 jobs
- A further 40 jobs indirectly through wider supply chain benefits
- A £10million boost to Frome’s economy
This Economic Manifesto moves beyond this technical assessment to reflect the wider benefits of Mayday’s community led approach.
It, therefore, outlines our future vision for Frome’s economy, showing how Saxonvale will contribute additional social and economic value beyond what is immediately quantifiable.
This vision is underpinned by the actions we will take to ensure that new development supports a strong economy and a prosperous community.
The Economic Manifesto will inform:
- Scheme design and development: ensuring the design of Saxonvale’s proposals respond to the latest evidence on Frome’s economy
- Operation of community assets: ensuring that community assets are used most effectively to drive maximum social, economic, and environmental benefit
Importance of community ownership
Mayday has a long-term vision for Saxonvale, whereby the area continues to deliver for the community of Frome for generations to come.
At the forefront of this vision are the delivery of specific buildings, and the wider public realm into the ownership of the community. These assets will be places where the priorities of the community can play out. They will provide space for diverse activities such as arts, culture, supporting local commercial and social enterprises, and education. In time, where these assets return a profit, these will be re-invested back into delivering further social value in Frome.
This Economic Manifesto outlines how these assets will be maximised to address Frome’s challenges and provide enhanced value to the town and its residents.