North East LEP sets out its vision to create 100,000 jobs
The North East Local Enterprise Partnership (LEP) has published its updated Strategic Economic Plan, which reflects on recent changes to the global and national economy as well as the UK’s imminent departure from the European Union.
It also looks at how the North East can maximise opportunities around the UK’s Industrial Strategy, particularly in areas such as green energy and an ageing population.
LEP chairman Andrew Hodgson said: “2014 saw the publication of the North East LEP’s original Strategic Economic Plan, which set out in clear terms our approach to growing the regional economy and creating 100,000 more and better jobs by 2024.
“Fast forward to 2019 and our ambition remains the same, but what has changed is the political and economic landscape we find ourselves in. We’re on the brink of leaving the European Union and a new Mayoral North of Tyne Combined Authority has been formed.
“It’s for those reasons and more we’ve chosen to launch a refreshed Strategic Economic Plan, one that reflects the significant changes we’re experiencing as a country, and a region.”
The plan identifies four areas of strategic importance to improve the region’s economic competitiveness - digital, advanced manufacturing, health and life sciences and energy.
“Whilst the current economic and political climate may pose challenges for our region, it also provides a number of opportunities,” said Andrew Hodgson.
“The refreshed Strategic Economic Plan outlines how, as a region, we can maximise those opportunities to strengthen and grow our economy.
“A good example is the UK’s commitment to tackling climate change and promoting clean growth. Here in the North East we are the leading location in England for the wind energy sector and our world-leading businesses and strong local supply chain puts us at the very heart of the clean energy revolution.
“We’re also global players in the health and life sciences sector, with our infrastructure, expertise and research into ageing one of our major strengths.”
The LEP says since the launch of the Strategic Economic Plan, 64,600 new jobs have been created.
To read the updated plan, visit www.nelep.co.uk.