REGENERATING THE EAST MIDLANDS
FEATURE
Fuelling the Midlands Engine
Midlands Engine Chairman Sir John Peace
• An overview of the forecasted impact of Brexit on the Midlands
• Qualitative study from interviews with Midlands Engine based businesses, on economic growth barriers and opportunities
• A study on the rationale for pan-Midlands interventions. The economic context has changed considerably in the
The Midlands Engine brings together partners across the Midlands to promote and grow the Midlands economy. It established the Midlands Engine Economic
Observatory in 2018 to provide essential research capacity and grow contemporary insights into the functioning of the economy. In May, the Midlands Engine published the first-ever Independent Economic Review for the region. The review is the result of a year-long, detailed analysis on the whole Midlands economy over the past decade by the Midland Engine Economic Observatory, delivered by leading economists and academics, together with in-depth insight from over 50 of the region’s businesses. The review is a powerful resource for Government,
policymakers, investors and wider stakeholders, who are working together to address the challenges and progress the Midlands Engine’s important growth and regeneration agenda. It is an extensive investigation of the Midlands economy,
at a depth and scale not seen before. The document, and its underpinning evidence base, is supplemented by many standalone pieces of research, including:
• An economic profile for each of the nine Midlands Engine Local Enterprise Partnership areas
• Economic growth scenarios for the Midlands • An analysis of public sector funding across the Midlands
short time since the completion of this work. The Observatory is working with partners to provide an addendum to this report (expected autumn 2020) to reflect this. The review highlighted that the D2N2 Local Enterprise
Area was the most densely populated LEP geography across the Midlands and made the second-largest economic contribution in terms of Gross Value Added (GVA). It also showed that both the D2N2 and LEP areas had
the highest rates of productivity. And both areas were lauded for their strengths in
logistics, manufacturing and engineering, and low-carbon technologies. The review, however, did make clear the need for a more
coherent voice, identity and ‘growth narrative’ for the Midlands region, and it called for more joined-up thinking and action across the Midlands. There was a concern that there are too many competing
voices in the region which hinders progress, a lack of co- ordination and focus, meaning there is greater need to strengthen the Midlands’ collective identity, brand and voice. The report argued this would make a difference to
external perceptions of the region, raise awareness and recognition of excellence in the Midlands, and ensure that economic and planning policy more effectively responds to the needs of businesses across the region. This could include the provision of suitable sits
business network June/July 2020 43
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