Local Economic Assessment
Local Futures has developed a unique approach to preparing local economic assessments. This work can also form part 1 of a phased project to deliver the Sub National Review. Our approach, which is fully consistent with CLG/IDeA guidance, is underpinned by the following principles:
- An understanding of the importance of the knowledge economy - driven by skills, innovation and enterprise
- Setting economic performance in a wider social and environmental context
- Undertaking analysis at different spatial levels, from sub-regional down to neighbourhood
- An understanding of the relationship of a local economy to its neighbouring areas, even where these fall outside county/regional boundaries
- We also offer training courses on How to use Local Knowledge to prepare your Local Economic Assessment. The next courses will be held on 28th January and 11th February 2010. For more information on these courses please email training@localfutures.com. Further courses will be run later in the year.
Our Local Economic Assessment comprises the following interrelated modules of research:
Commuting Flows
An analysis of commuting flows, highlighting levels of interaction with surrounding areas, zones of influence and the wider set of areas that should be included in the more detailed analysis.
Local Economic Analysis
An in-depth analysis of economic competitiveness at a County/District level, set within a wider social and environmental context. The findings include a summary ‘report card’, highlighting key policy challenges. This is accompanied by a complimentary analysis of conditions at a ward and neighbourhood level.
Nearest Neighbour analysis/Typologies
Identification of statistical nearest neighbours, on a range of different policy themes, and analysing economic and social/environmental typologies
Underlying trends and forecasts
Analysis of underlying trends and forecasts, including detailed analysis of key employment sectors.
Impact of the recession
Analysis of the likely impact of the recession on both the area’s economy/businesses and communities/residents.
Understanding local communities
Study of the make-up of the local community (using the Output Area Classification), which is especially relevant to economic inclusion issues.
Summary report and policy implications
Summary of research findings and policy implications.
For further information on Local Economic Assessments please contact us by telephone on 020 7440 7360 or email info@localfutures.com.
Delivering the Sub National Review
Local Futures has developed a tried and tested process for delivering the Sub National Review. Starting with the Local Economic Assessment, this phased approach is designed to engage key stakeholders and ensure commitment by all parties to delivering the resulting Strategy for Sustainable Economic Prosperity.
Our recommended approach involves the following interrelated phases of work:
Phase 1: Local Economic Assessment
Undertake baseline analysis, setting economic performance in a wider social and environmental context. Identify strengths and weaknesses and current policy challenges.
Phase 2: Further research
Undertake policy review and stakeholder survey, together with any further research necessary to fill gaps in the Phase 1 analysis. Identify key issues and strategic priority themes.
Phase 3: Workshop programme
Organise a programme of workshops, involving key stakeholders, to:
- Validate Phase 1 & 2 research findings and agree strengths, weaknesses and current policy challenge
- Consider underlying trends and ‘future drivers of change’ and develop alternative ‘scenarios for the future’. Identify opportunities, threats and future policy challenges
- Agree key elements of a long-term vision and strategic priorities for delivering the vision
Phase 4: Draft strategy
Prepare draft Strategy for Sustainable Economic Prosperity, highlighting strategic priorities and including draft action plan. Circulate for comments and feedback.
Phase 5: Final strategy and action plan
Prepare and agree final strategy and detailed action plan.
Phase 6: Monitoring and evaluation
Develop a monitoring framework, identifying key indicators for measuring progress and setting in place a system for reporting progress.
For further information on delivering the Sub National Review please contact us by telephone or email info@localfutures.com.