The government
today set out a new role for regional development agencies and
local authorities to back growing industries and support the
country’s future economic success.
A new national framework published today – Partnerships for
Growth – sets out plans to coordinate the work of RDAs and local
authorities to promote the industries that will drive growth and
pursue national priorities for skills, innovation, investment and
enterprise.
RDAs and local authorities across the country will collaborate
more closely to build on their local strengths, while ensuring
public investments are targeted at the projects where they can
have most impact.
Under the Partnerships for Growth plan:
· Key objectives will be to raise the rate of sustainable
economic growth, increase employment and reduce gaps in growth
rates between regions.
· The government, local authorities and RDAs will work together
to identify sectors for targeted intervention and coordinated
support that can unlock future growth.
· The RDAs will have a new role in setting priorities for skills
funding and will work with national and local partners to join up
support for innovation, infrastructure and enterprise.
· The RDAs will work with local authorities and city-region
partnerships to agree local priorities and ensure a supportive
business environment through action on transport, planning,
housing and regulation.
Regional Economic Development Minister Rosie Winterton said:
“Changing economic times create new challenges and we must ensure
every region benefits from the opportunities for growth provided
by the recovery.
Over the last 10 years RDAs and local authorities have
strengthened our economy, supporting the businesses that drive
growth and developing the infrastructure of our regions.
During the economic recovery RDAs must play a key role and build
on coordination with local authorities and national government. We
need joined-up action at national, regional and local levels so
that people and businesses get the greatest possible help to
increase prosperity.
Established links with businesses in their regions mean RDAs can
direct investment to the projects where it will have most impact
in creating the creative, strong and highly-skilled economy we
need to succeed.”
The New Industry, New Jobs strategy published earlier this year
set out the need to ensure all government action is supportive of
business including key industries of the future.
RDAs are set to invest an estimated £1.1bn in support of the New
Industry New Jobs strategy over the next 18 months. This follows
investments of £900m already made by RDAs in priority sectors.
Projects where RDAs are collaborating with others to promote
priority sectors identified by New Industry New Jobs include:
· Manufacturing Technology Centre, Coventry (AWM and EMDA)
· Bioscience Park, Stevenage (part-funded by EEDA, the UK
Strategic Investment Fund and Technology Strategy Board)
· Environmentally Friendly Engine aerospace project (part-funded
by SWDA, EMDA, AWM and NW RDA)
· Supply Chain Initiative to support development of supply chain
for high value materials and components in the expanding printable
electronics market (Northern Way)
Mick Laverty, Chief Executive at Advantage West Midlands, said:
“This framework gives RDAs a central role in driving sustainable
economic growth. We are business-led and business-liked
organisations which have a good track record of translating
national policy into on-the-ground delivery in the regions.
“There are few other public sector bodies which are able to offer
this degree of simplicity or speed, which benefits national
government, local authority partners and business alike.
“The RDA model of generating wealth by targeting funding where it
makes most impact to deliver maximum value for money, is a model
that works. Every £1 invested by RDAs generates at least £4.50 in return.”
Notes to Editors
1. The full Partnerships for Growth document can be found at http://www.berr.gov.uk/whatwedo/regional/growth/page53688.html
2. Regional Development Agencies were established after passage
of the Regional Development Agency Act 1998. It is estimated that
since 2002, RDAs have created or safeguarded more than 500,000
jobs and created over 56,000 new businesses.
3. They support business development and competitiveness by
encouraging public and private investment and by helping
individuals take advantage of economic opportunities.
Department for Business, Innovation & Skills
The Department for Business, Innovation and Skills (BIS) is
building a dynamic and competitive UK economy by: creating the
conditions for business success; promoting innovation, enterprise
and science; and giving everyone the skills and opportunities to
succeed. To achieve this it will foster world-class universities
and promote an open global economy. BIS - Investing in our future.
Contacts:
BIS Press Office
NDS.BIS@coi.gsi.gov.uk