The business of economic development and regeneration
An Advantage West Midlands case study

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Page 4: Advantage in action

Advantage West Midlands has led the development of a strategy for the economic regeneration of the West Midlands. Strategies are long-term plans which set out the means of achieving chosen objectives, in this case economic regeneration. The Agency works with a broad range of partner organisations to implement the strategy and deliver its objectives.

The Government has recently identified opportunities to create directly elected regional assemblies in those regions that want them, and in doing so created the scope to devise tailored regional solutions to regional problems. The thinking behind this is that the needs of local areas are best served when development is steered and is accountable to local epresentative bodies. The West Midlands' Regional Assembly was formerly known as the West Midlands Regional Chamber.

To translate the economic strategy into specific actions that would deliver economic regeneration, Advantage West Midlands published Agenda for Action. This strategic document was agreed between the Agency and the then West Midlands' Regional Chamber on 26 April 2001. Agenda for Action clearly sets out the means to deliver the Regional Economic Strategy. The Agenda defines the significant, priority actions that partners in the region have agreed will deliver the West Midlands Economic Strategy. The Actions outline how to make the best use of around £30 billion. These are the total resources estimated to be available for economic regeneration over the next 10 years.

Advantage West Midlands | The business of economic development and regeneration