Every LEP has been asked to lead and develop a Local Industrial Strategy in their area.
This will decide local economic priorities for the next decade, in line with the government’s national Industrial Strategy, which aims to boost productivity and create high-quality, well-paid jobs.
It will also be the key document for LEP engagement with government and will set the framework for future investment, including the new UK Shared Prosperity Fund which is designed to replace EU funding post-Brexit.
Glenn Caplin-Grey, Chief Executive of the Cornwall and Isles of Scilly LEP, said: “The Local Industrial Strategy is built on a robust and open evidence base and can be used as a live document for all stakeholders in conversation with government, and for decision making around investments in the future.
“Our vision is that in 2030 Cornwall and Isles of Scilly’s creative and carbon neutral economy will be realising opportunities for its people, communities and businesses to thrive, benefiting the environment and providing an outstanding quality of life for all.
“And we want to move beyond the traditional economic metrics of ‘Gross Value Added’ (GVA). Economic growth should not be at the expense of our environment and our people, which is why this strategy is informed by four guiding principles of inclusive growth, clean and circular economic development, using the creative economy to drive innovation and environmental growth.”
The Local Industrial Strategy it is a product of extensive consultation and reflects shared ambitions for the future of the Cornwall and Isles of Scilly economy. It focuses on locally specific strengths and opportunities including clean energy, geo-resources, data and space, the visitor economy and agri-food.
In preparing the strategy the LEP hosted a series of roundtables with businesses or varied size and sectors, research institutes and public sector bodies.
Expert groups were convened to examine sector growth opportunities in more detail, including mining, energy, creative industries, tourism and food. And the strategy was stress-tested by a ‘critical friends’ panel comprising academics, politicians and Whitehall officials.
The LEP is seeking formal endorsement of the draft strategy this month from Cornwall Council and the Council of the Isles of Scilly, and will be working up an implementation plan with stakeholders in the coming weeks before a final draft goes to Government, with sign-off anticipated before the summer.
To view the draft Local Industrial Strategy click here.