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 are developing 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 are working with the private, public and third sectors to develop a Local Industrial Strategy for Lincolnshire which will set the economic priorities through to 2030 and beyond and are working in partnership locally to develop the strategy and make a compelling case to government and to the private sector for investment into Lincolnshire.
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 responds directly the UK Industrial Strategy launched by Government in November 2017. The aim is to increase productivity, growth and resilience and as a result create more prosperous communities. The Local Industrial Strategy must be locally distinctive, with proposals which are strongly linked to sound evidence; identifying the particular opportunities within our economy.
The strategy focusses on the Government's five foundations of productivity:
• Business Environment
It also focusses on four Grand Challenges which are future challenges the UK will be facing:
• Artificial Intelligence and Data
• Ageing Society
• Clean Growth
• Future of Mobility
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.