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North East business community and economic partners have their say on Local Industrial Strategy

Businesses in the North East this week contributed to the development of the region’s Local Industrial Strategy (LIS), which will set out how the region and government will work together to deliver increased productivity and living standards in the North East.

During the North East Local Industrial Strategy Summit, co-ordinated by the North East Local Enterprise Partnership (LEP), plans for the strategy were laid out to an audience which included representatives from the North East business community, academia and local government.

Andrew Hodgson, Chair of the North East LEP, said: “The North East has been selected by Government as one of six areas to be the first to develop Local Industrial Strategies.

“The North East’s strategy will be ambitious and outward-looking, demonstrating how we will use our strengths as a region to increase productivity and improve the earning power and quality of life for people who live here.”

The North East LIS will complement the UK’s overarching Industrial Strategy, which aims to boost UK productivity, and use investment in skills, industry and infrastructure to create jobs and increase the earning power of people across the UK.

The LIS will include details on how the region can capitalise on opportunities presented by sector deals in areas such as clean growth and ageing society, and plans for the North East to forge links in international markets, increase inward investment and capitalise on international trade.

At the summit, businesses took part in a series of discussions themed around topics including infrastructure, energy and advanced manufacturing, contributing their insights and ideas to the development of the strategy.

“At today’s summit we presented the evidence and research which will form the basis of our LIS and we heard from some of the partners who are helping to inform its development.

“This strategy is an opportunity to demonstrate how the North East can capitalise on opportunities and really make its mark on the world, and it’s important that the business community has a say on its development. That’s why it was so encouraging to see so many people, who will be vital in making this vision a reality, actively involved in the event today,” added Andrew Hodgson.

Speakers at the summit included Ariel C Armony, Ph.D, from the University of Pittsburgh in the USA, who shared lessons from the Pittsburgh region’s delivery of increased productivity; Joaquim Oliveira Martins from the OECD Centre for Entrepreneurship, who discussed how all regions can benefit from increases in jobs and productivity; Tony Danker from Be The Business, who talked about the UK campaign for productivity and competitiveness; Mayor Jamie Driscoll, North of Tyne Combined Authority; and Cllr Iain Malcolm, Chair of the North East Combined Authority and Leader of South Tyneside Council.

The development of the North East LIS is being led by the North East LEP. The LIS will complement the North East Strategic Economic Plan – the key economic policy document for the region, which sets out the plan for adding 100,000 more and better jobs to the North East economy by 2024.

Find out more about the development of the North East Local Industrial Strategy.

Home / Local Industrial Strategy

North East LEP publishes second, annual Our Economy report

The North East Local Enterprise Partnership (LEP) publishes its second annual Our Economy report today (Friday 10 May) at an event at Crowne Plaza Newcastle.

Providing an update on the current performance of the North East economy and how it is changing over time, Our Economy 2019 also looks at what makes the North East a competitive place for businesses and residents.

Victoria Sutherland, Senior Economist at the North East Local Enterprise Partnership, said: “Our Economy 2019 uses a range of indicators to give us a clearer picture of how our region is performing.

“We’ve been able to look at important factors like how many businesses there are in the North East and whether they are growing, innovating and exporting. We’ve also looked at how many jobs there are in the North East, how many of our residents are in work and the levels of investment into the region.

“By understanding what the statistics tell us about our economy, we can focus our efforts on the most important issues and identify the activities that will help achieve the ambition set out in the Strategic Economic Plan to create 100,000 more and better jobs.”

Each year, the Our Economy report takes a more detailed look at a particular topic. This year it focuses on what makes the North East a competitive place. Being competitive is about providing the right environment for the region’s existing and potential businesses to invest and grow and somewhere individuals can realise their ambitions, building and nurturing confidence.

The evidence in Our Economy shows that innovation, business structure and technological readiness, and efforts to build the skills and capabilities of residents are all key factors underpinning the North East’s competitiveness. It also highlights the assets in the region that contribute to a high quality of life.

The event in Newcastle features keynote speakers including Richie Ramsden, Head of Data Science – Innovation Incubator at AkzoNobel, who considers the North East to be the best place in the UK to undertake data science. Professor Jane Robinson, Dean of Engagement and Place at Newcastle University will speak on how the North East’s universities contribute to the region’s success.

Andrew Hodgson, Chair of the North East LEP said: “Given the political and economic uncertainty we’ve experienced in the last few months, it’s more important than ever we continue to review the performance of the North East economy.

“The data in Our Economy 2019 shows we can have confidence in our approach, but it also identifies the areas, as a region, we need to address, for example, low levels of innovation. This kind of detailed analysis is vital as we continue to develop the North East Local Industrial Strategy in partnership with government.

“Our Economy continues to be an important resource for the region and I’d like to thank everyone that contributed to this year’s report.”

To read the North East LEP’s Our Economy report in full, click here. It provides detail on progress against the North East Strategic Economic Plan (SEP) targets, including the region’s ambition to create 100,000 more and better jobs by 2024. To read the Strategic Economic Plan, click here.