The Local Industrial Strategy for Cornwall and the Isles of Scilly is built
on evidence of our county’s distinctiveness and future opportunities for
economic development, jobs and wages growth. It has been developed in
partnership with government and sets out a compelling case for Cornwall and
Scilly to both government and private sector potential future investors and sets
out how we can help contribute to national ambitions and address national
Where are we in the process?
Our Local Industrial Strategy went to government for sign off in March 2020, but the process has understandably been impacted by the Covid 19 pandemic. We are waiting for news to understand when it will be signed off.
What are Local Industrial Strategies?
All Local Enterprise Partnerships were tasked with developing a Local Industrial Strategy which demonstrates how areas will raise productivity in the economy, in line with the Government’s national Industrial Strategy.
We had to set out a small number of clearly defined priorities for how cities, towns and rural areas will maximise their contribution to UK productivity, and allow areas to make the most of their distinctive strengths.
We also had to promote the co-ordination of local economic policy and national funding streams, and be based on clear evidence. Local Industrial Strategies will inform Local Enterprise Partnerships’ approach to any future local growth funding deployed through them, and establish new ways of working between national and local government.
- Growing the artificial intelligence and data driven economy
- A shift towards clean growth
- A world leader in the future of mobility
- Innovation in order to meet the needs of an ageing society
The government also wanted Local Industrial Strategies to respond to their five foundations of productivity:
- 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
Contributing to the Local Industrial Strategy, CIoS LEP has its 10 Opportunities document ‘Towards a Local Industrial Strategy’ which was developed in 2018 in wide consultation with the business community. It identified nine industry opportunities and drivers of economic change and growth as well as identifying sectors such as construction and manufacturing which underpin the development of a strong economy.
In 2017 the LEP published Vision 2030 which was a revised and updated Strategic Economic Plan. This focused on People and Place, Innovation and Creativity, Productivity-Led Growth, Inclusive Growth, Building Great Careers, Vibrant Communities and Global Presence.
These documents and the consultation data which led to their development formed part of the evidence base underpinning the Local Industrial Strategy.
How we delivered it?
The first step was to compile evidence and data which was submitted for independent economic review, with any gaps in the data addressed. T The review also indicated likely areas of focus and gave us the initial framework of a draft strategy. From there we consulted on the draft via a series of roundtables with businesses of varied size and sectors, research institutes and public sector bodies to get feedback and critique which then helped shape the evolving strategy into a final document. The LEP received formal endorsement of the draft strategy 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.
You can view the draft Local Industrial Strategy here
You can view the draft Local Industrial Strategy Evidence Base here