Local Industrial Strategy
New Anglia LEP is working with Government to develop a Local Industrial Strategy for Norfolk and Suffolk.
Our draft Local Industrial Strategy has now been submitted to Government. You can read it below.
The Local Industrial Strategy is the next stage in the evolution and implementation of the Norfolk and Suffolk Economic Strategy. It will build on the Economic Strategy but be a deeper and more focused piece of work.
The local industrial strategy focuses on three opportunity areas - clean energy, agri-food and ICT/digital creative. The strategy also recognises a number of underpinning sectors such as ports and logistics and culture and the visitor economy which underpin the economy.
The golden thread which runs through the Local Industrial Strategy is clean growth, with Norfolk and Suffolk positioned as the UK’s clean growth region.
Each of the three opportunity areas have a number of proposed interventions aimed at capitalising on these opportunities.
The strategy is then structured around the five foundations of growth identified in the
national industrial strategy and our response to these foundations - Ideas, people, infrastructure, business environment and places.
The strategy outlines our assets in these areas and proposed interventions to boost productivity, support inclusive growth and capitalise on our three opportunity areas.
The Local Industrial Strategy has been drafted during summer 2019.
The work so far
The draft Local Industrial Strategy has been written following months of stakeholder engagement.
We have worked with business and local authority partners and over 250 people have attended our consultation events to share their ideas on the challenges, opportunities and interventions required.
What is a Local Industrial Strategy?
A Local Industrial Strategy should bring together a strong, well-informed evidence base about an area’s economy and outline a long-term set of priorities that capitalise on existing opportunities in the economy, address weaknesses and resolve an area’s needs.
Government’s Industrial Strategy White Paper was published in November 2017, setting out a long-term plan to boost the productivity and earning power of people throughout the UK.
The components of the Industrial Strategy include:
- Five foundations of productivity
- Four grand challenges + Industrial Strategy Challenge Fund
- Sector deals
- Local Industrial Strategies (LIS)
- Links with UK Shared Prosperity Fund (UKSPF).
One of the five foundations of productivity is places. The vision is to drive towards more prosperous communities and tackle the regional and local disparities that exist across the UK. Local Industrial Strategies are central to this focus.
Who will lead on the development of Local Industrial Strategies?
LEPs and Combined Authorities have been asked to co-develop Local Industrial Strategies with Central Government and will be responsible for delivering them alongside local partners, who will be integral to the process.
What is our approach and timeline to developing a Local Industrial Strategy?
We are in a strong starting position in developing a Local Industrial Strategy, having already developed and published the Norfolk and Suffolk Economic Strategy, which is supported by a robust evidence base.
The approach to developing our Local Industrial Strategy has been broken-down into six stages:
In October 2018 Government published the Local Industrial Strategy Policy Prospectus which sets its expectations on Local Industrial Strategies.
Is there funding attached to Local Industrial Strategies?
The Local Industrial Strategies will become a key element of the delivery of the Economic Strategy, therefore it will help guide the strategic use of local funding streams. They will also act as a gateway to any future local growth funding being deployed through strengthened Local Enterprise Partnerships.
Local Industrial Strategies should, however, remain strategic documents and not contain any proposals that require new funding or have spending implications outside of existing budgets available to local areas.
The UK Industrial Strategy states that Government will ensure that local areas continue to receive flexible funding for their local needs. Government seeks to launch the UK Shared Prosperity Fund in 2019.
It is understood that LEPs will be responsible for delivering the fund. The fund will be linked to the delivery of the Economic Strategy and Local Industrial Strategy.
If you have any questions or would like to provide any views on the Local Industrial Strategy for Norfolk and Suffolk email LIS@newanglia.co.uk.