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What is a Local Industrial Strategy?
Local Industrial Strategies are required by Government to be prepared by all Local Enterprise Partnerships (LEPs). They are intended to ensure two things:
Local Industrial strategies build on the UK Industrial Strategy (UKIS), which list five foundations of Growth:
The UK Industrial Strategy also identifies four Grand Challenges:
Why is the LIS important for the future of Lancashire?
The Local Industrial Strategy presents a tangible and real opportunity to identify and propose to Government the most important strategic economic propositions for Lancashire as a place. If we do this well, we will have:
In the Local Industrial Strategy, we need to set out a long term vision for the economy of all of Lancashire. We need to identify key propositions that will both safeguard and grow our existing economic strengths, and allow us to build new strengths and sectors based on emerging opportunities and technologies.
It should be noted that the required output is to produce a Local Industrial Strategy that contains strategic priorities and propositions, and not to propose or promote specific projects or delivery proposals.
What Work has been done so far in relation to the preparation of Lancashire’s Local Industrial Strategy?
Lancashire LEP has already commissioned consultants [Steer Economic Development] to prepare an evidence pack for the current state of the economy of Lancashire. This pack is a work in progress and is available for viewing below. It highlights data in respect of the current strengths and weaknesses of Lancashire’s economy.
From this pack we have a good picture of “where we are” and current strengths and weaknesses.
What are the next steps?
Drawing from the evidence pack and further consultation we need to determine the key strategic priorities for Lancashire as a whole. This will allow us to make credible propositions to Government, with whom Lancashire LEP will liaise before the Local Industrial Strategy is finalised. We plan to do this having consulted widely with all sector and economic interests within Lancashire.
The current key milestones on timetable relating to the production of the Local Industrial Strategy (which are determined by Government) are set out below:
|3rd June 19||LIS – Have Your Say Event – East Lancashire Chamber of Commerce|
|24th June 19||LEP Board discussion – Developing Strategic Priorities|
|24th July 19||Strategic Stakeholder Workshop to develop Strategic Priorities|
|August 19||Develop theme-level actions/proposition/national and local ‘asks’|
|September/ October 19||First drafting propositions|
|Early January 20||3rd stakeholder workshop|
|January 20||Discussions with Government departments to begin|
|February 20||Narrative development and collaboration with Government|
|March 2020||Final LIS in place|
How can I have my say?
Lancashire LEP is very keen to receive views from all sectors of the economy so that the drafting of the Local Industrial Strategy is properly informed. We are very conscious of the overwhelming importance of achieving buy-in from all places and sectors within Lancashire.
With this in mind:
– The LEP has already supported events and consultation workshops during 2019 in relation to the Local Industrial Strategy. A further consultation event is due to be held in early 2020. These will help to receive and develop views, as well as more generally spreading an understanding of the Local Industrial Strategy development process and helping to build a consensus around its conclusions. These events will be a mixture of structured workshops within the LIS development process, where key stakeholders with an understanding of the developing strategic priority themes will be prioritised and wider events where LEP representatives will attend to the meetings of existing networks groups and organisation to share information and gather views.
-the LEP has also previously invited any person or entity interested to submit returns of the LIS questionnaire which was sent to targeted stakeholders from both the private and public sectors.
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