WIREDGOV

The Local Government Association has launched a new product to help local authorities engage more effectively with the private sector, curate their area and services to better support businesses, and attract investment and growth. 

The guide ‘Attracting investment for inclusive growth: A guide for councils’, will be launched at the UK Real Estate, Investment and Infrastructure Forum (UKREiiF).

Produced by Henham Strategy for the LGA, the guide provides essential context and practical steps for local government to create the best offer to business and bring investment to their area.

The guide highlights ‘inclusive growth and investment’ – that is, growth and investment that is shared more fairly across a community, and helps all areas prosper. 

From housing and development, to which financing models create the most social value, to the importance of policy and regulatory stability, the guide covers key areas and insight for councils on how to build prosperity in partnership with business.

The guide takes an investor perspective and was informed by leading figures from across the private sector about their needs, and through talking to good practice councils. Private sector investors are looking for councils to:

• Be a ‘single front door’: a one-stop-shop for businesses seeking support, information, proper licensing and permissions given clearly and quickly. 
• Help bridge the viability gap – for example by de-risking investment by working together.
• To make best use of property and regeneration vehicles and development corporations
• To deliver the right kind of infrastructure that enables investment
• Consider using financing incentives to attract and nurture business in their area 

Cllr Carl Cashman, Vice Chair of the LGA’s Inclusive Growth Committee, said: “Councils and the private sector are natural partners – both need and support each other, and when they are in sync the return on investment far outstrips what they put in to begin with.

“This guide provides essential knowledge, insight and information about what the private sector needs and expects from their counterparts in local government. 

“Through implementing its findings, councils can create the foundation for further business growth that benefits entire communities.”

Notes to Editors

The guidance is available to download here. For more information please contact kamal.panchal@local.gov.uk or chris.mitchell@local.gov.uk