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

Page 1: Introduction

The economy of the UK has experienced dramatic change in recent years as a result of both:demand factors - modern consumers want different goods than those bought by previous generationssupply factors - the way in which products are made today is different, and there is far greater competition from across the globe to supply modern markets. The economic fortunes of different UK regions fluctuate...
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Page 2: The development of the West Midlands

The West Midlands has a proud industrial history, being the birthplace of the Industrial Revolution in this country; iron and steel, bicycle and motor vehicle manufacture, the rail and aircraft industries, all forms of engineering, pottery and many others. These industries are still important, as are the skills of the people involved, but today we live in a more diverse economy, in which:the new...
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Page 3: Advantage West Midlands - RDA

The present government recognises the importance of economic management of the various regions of the country, steered by local people accountable to locally elected regional bodies and supported by central government, as well as an overall framework for development of the European Union. Funds for regional development are provided by:the European Unionthe UK governmentlocal authorities.The...
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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...
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Page 5: Creating conditions for growth

The Agenda for Action outlines priorities for the first three years of the plan and establishes three main focuses for action that relate to the targeting and concentration of resources. These focuses are:Regeneration ZonesThe Agency has targeted its investment in six 'Regeneration Zones'. These are parts of the West Midlands where there is greatest need and opportunity for regeneration. Zone...
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Page 6: Working in partnership

The Zones are working through forums of partnerships, which encourage people to work across traditional boundaries and develop new relationships. Leadership in economic development has to be shared among a number of organisations, each contributing where they can best add value, rather than duplicating effort.ClustersA second area where the Agency concentrates its efforts is to develop 'business...
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Page 7: Conclusion

Regional development and regeneration lies at the heart of a vibrant UK economy. Advantage West Midlands is the regional champion working on behalf of the region to secure funding, investment and influence policy and perceptions of the region. It is a regional catalyst bringing others together to deliver actions of a regional significance. It is also a regional co-ordinator acting as a shaper...
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Related: NATS
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