The Industrial Strategy White Paper, published in November 2017, announced the government’s intention to work with the Mayoral Combined Authorities (CAs) and Local Enterprise Partnerships (LEPs) to develop Local Industrial Strategies.
This briefing explores the key issues that local leaders should consider in order to develop effective Local Industrial Strategies, drawing on evidence from Centre for Cities and the What Works Centre for Local Economic Growth:
- Local Industrial Strategies need to recognise cities as the main hubs of economic growth as well as their interdependency with surrounding areas.
- Places should use Local Industrial Strategies to unlock growth by identifying and building on their leading sectors & distinctive assets.
- Local Industrial Strategies should consider the big picture of global economic shifts and not try to revive shrinking sectors.
- To make the most of Local Industrial Strategies, cities need to map out the range of investment levers and mechanisms available to them.
- Cities should find new ways of working with — and coordinating between — local and national government.
- Cities should lobby national government for greater powers to help them deliver more effective Local Industrial Strategies.