Inventing our future Collective action for a sustainable economy

How do we get there?
Leadership, governance
and delivery
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Delivering the regional economic strategy at sub-regional level
Local Area Agreements(LAAs) will make a major contribution to delivery
of regional economic strategy (RES) targets, goals and priorities. In
particular, they can address many determinants of economic participation
and performance – including employment and entrepreneurship rates,
skills and health. LAAs can be particularly effective in contributing to RES
delivery by:
• setting ambitious targets, aligned with those of the regional economic
and spatial strategies (and in future the single regional strategy)
• having a clear model for delivering economic change
• shaping services and aligning investment resources of local, regional
and national partners to deliver shared objectives
• having a strong understanding of economic geography, the particular
needs of deprived communities, urban and rural communities, local
business needs and labour markets – expressed in future through local
economic assessments
• developing effective multi-agency approaches to delivery of local
outcomes
• greater involvement of the private and third sectors in local prioritisation,
delivery and governance
• ongoing commitment to capacity development, improving sub-regional
intelligence, learning and evaluation.
The RES identifies the engines of growth as critically important to the
long-term competitiveness of the region and a focus for major housing
and population growth. In these localities, local authorities and partners
may decide to take forward Multi Area Agreements (MAAs).
These would be based upon:
• a bold and visionary strategy for the economic development of the
area led by the local authorities, identifying and supporting a limited
number of sectors and clusters of international and national
significance, alongside outlining improvements in the general
environment for businesses that serve local and regional markets
• effective partnerships that span administrative boundaries (both local
and regional), tiers of government and the public and private sectors,
urban centres and rural hinterlands, to deliver local and regional
strategy ambitions
• Integrated Development Programmes (IDPs) that identify the phasing
and financing of major physical infrastructure and growth necessary
to underpin major economic centres and labour markets
• a clear planning framework that provides clarity and confidence to
the market, including masterplans or area action plans.
Significant progress has been made in preparing IDPs across a number of
regional cities and their hinterlands. During 2008, it will be important to
roll-out such an approach across other RSS key centres for development
and change, and for the government and key partners to recognise their
importance in planning investment. To respond to the particular economic
and environmental challenges of our coastal areas, partners are
committed to establishing a regional coastal forum and action plan.