Economic growth must reach all parts of society and all parts of the country if it is to have any meaning, North East Mayor Kim McGuinness said today as she launched a 10-year-plan to create jobs and bring in new investment.
The Mayor has made it her mission to make North East England the home of real opportunity, tackling child poverty and focusing on social inclusion in her economic plans for the region.
The interim Local Growth Plan published today will guide the North East’s economic growth and the work of the North East Combined Authority for the next 10 years.
The Plan sets out six key industry sectors which will be the driving force for economic growth, and act as a catalyst for much wider benefits to local people.
North East Mayor Kim McGuinness said: “My vision for the North East is for it to be known as the home of real opportunity, a region where everyone thrives.
“As the first North East Mayor I will unlock world-class opportunities and build inclusivity into every element of our economy, ensuring that we do so in a manner that improves lives for all, while our region becomes a trailblazer for the UK’s economic success.
“Our ten year plan published today sets out how we will grow our economy, support our businesses and improve living standards for people across our great region. I’ll ensure we build on our strong track-record of attracting investment and public-private partnerships to bring new jobs into our communities, putting this region back on the world stage.”
John McCabe, chair of the North East’s Business and Economy Advisory Board and chief executive of the North East Chamber of Commerce, said: “The North East is home to world-class industries that drive a £54 billion economy built on advanced manufacturing, innovation and creativity, with huge potential for growth.
“This plan has been shaped with the help of businesses, reflecting a deep understanding of what makes our region unique. But prosperity depends on more than just industry, it requires investment in skills, access to employment, bridging the digital divide and improving housing and transport. By working together, we can unlock new opportunities and ensure economic success benefits everyone across the North East.”
Martin Brookes, Chief Executive of VONNE (Voluntary Organisations’ Network North East) said: “We welcome the Local Growth Plan, including the emphasis on the foundational economy and the vital role of the community and voluntary sector in contributing to economic growth in the region.
“The sector plays a key role in connecting with and supporting communities, including tackling root causes of economic inactivity and inequality, and working to address them. The Combined Authority’s recognition and support of this can help create a vibrant economy for all.”
The interim Local Growth Plan was presented to the North East Combined Authority cabinet at its meeting in Sunderland (18 March), before going out to consultation.
A final Plan is expected to be approved by the Cabinet in the summer and the Combined Authority will work in partnership with Local Authorities in the North East to deliver its actions at pace.
The Plan is built on the five key missions the Mayor has set out for North East England. The region will be:
- Home to a growing and vibrant economy for all
- Home of the green energy revolution
- A welcoming home to global trade
- The home of real opportunity
- A North East we are proud to call home
The Plan identifies six key industrial sectors which will be at the heart of investment plans to drive growth, identified through detailed work with the business community:
- Offshore wind and energy transition
- Advanced manufacturing including electric vehicles
- Creative industries and content
- Life sciences, pharmaceuticals and process industries
- Tech, digital and AI
- Defence, security and space
But it makes clear that other sectors, including small and local businesses in the so-called foundational economy and rural and coastal industries also have a significant role to play in a region as diverse as North East England.
Following cabinet, the North East Combined Authority is set to deliver a programme of engagement events over the coming month, working in partnership with business and community organisations across the region.
A full list of events can be found on the Combined Authority’s website, where a copy of the Interim Local Growth Plan can be downloaded at https://www.northeast-ca.gov.uk/local-growth-plan