The aim of the Industrial Strategy is to boost productivity by backing businesses to create good jobs and increase the earning power of people throughout the UK with investment in skills, industries and infrastructure.
In Greater Lincolnshire we have developed our Local Industrial Strategy in partnership with government in order to further build on our competitive advantages and to provide a test bed for some nationally important incentives.
We worked with the private, public and third sectors to develop a Local Industrial Strategy for Lincolnshire which sets the economic priorities through to 2030 and beyond.
We produced an Evolving Opportunities Framework and issued a call for evidence in order to develop the focus for our Local Industrial Strategy. Since then we have been working with local partners and government to further develop our strategy.
Our Local Industrial Strategy is underpinned by a wide-ranging evidence base. For more information and to view the evidence base in full please see our evidence base page.
What is the Local Industrial Strategy?
The Local Industrial Strategy is the Government’s long term plan to boost the productivity and earning power of people throughout the UK. Published in November 2017, it sets out five “foundations of productivity” as the building blocks for a transformed economy:
Ideas – the world’s most innovative economy
People – good jobs and greater earning power for all
Infrastructure – a major upgrade to the UK’s infrastructure
Business Environment – the best place to start and grow a business
Places – prosperous communities across the UK
Four “grand challenges” are also identified as opportunities to put the UK at the forefront of the industries of the future:
AI & Data Economy – putting the UK at the forefront of the artificial intelligence and data revolution
Ageing Society – harnessing the power of innovation to help meet the needs of an ageing society
Clean Growth – maximising the advantages for UK industry from the global shift to clean growth
Future of Mobility – becoming a world leader in the way people, goods and services move
For Greater Lincolnshire, this means focussing on our distinctive specialisms and opportunities and how we can capitalise on these.
Is there funding attached to Local Industrial Strategies?
Our Local Industrial Strategy will be a key element of our overall economic strategy delivery. As such, it will help guide the strategic use of local funding streams and act as a gateway for future local growth funding deployed through Local Enterprise Partnerships.
However, it is important that Local Industrial Strategies remain strategic and they do not contain proposals which have spending implications attached to them.
Who is leading the development of the Local Industrial Strategy?
Local Enterprise Partnerships and Combined Authorities across the country have been asked to co-develop Local Industrial Strategies with central Government. The responsibility for delivering the strategy is down to the LEP alongside their local partners.
In Greater Lincolnshire we have sought to engage all of our public, private and voluntary sector stakeholders throughout the process in order to shape our strategy.