Local Industrial Strategy
Developing a Local Industrial Strategy for Norfolk and Suffolk
New Anglia LEP is working with Government to develop a Local Industrial Strategy for Norfolk and Suffolk.
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. It will look in more detail at our competitive strengths and the high growth sectors clean energy, agri-food and ICT/digital.
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. Consultation on the design and priorities for the fund starts in autumn 2018.
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.
Collaborative ownership of the strategy is imperative. Therefore, stakeholder engagement and communications play vital roles in each stage. We recognise that there is a wide variety of stakeholders with a diverse range of aims and objectives. Consensus and prioritisation of aims and objectives will be essential.
Throughout the process there will be a range of opportunities for partners to input and influence the development of the strategy. Work is currently underway on stress testing existing evidence and mapping the evidence to identify gaps and appropriate methods to fill them.
First stakeholder engagement is planned for spring 2019 to help inform and develop the evidence base. We will be using a range of methods and tools to do this, including digital communications, on-line surveys and business engagement events. Further information about these events will be provided as soon as this becomes available.
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.
Regular updates will be published on this page so please check back.