A new report ‘puts universities at the centre of the debate on how to generate growth in local and regional economies with national impact’.
The research, which has been produced by the Institute of Economic Development (iED) and AtkinsRéalis, shares recommendations from universities on how the government can best improve regional and local economies across the UK.
News of the report comes following the government’s plans to adopt a place-based approach to drive economic growth – a decision outlined in Labour’s Spending Review and Industrial Strategy White Paper.
With this in mind, universities used case studies to highlight why partnerships between themselves, councils and businesses are vital.
For example, a case study from Teesside University – one of the ten academic institutions who participated in the research – examined the success of the DigitalCity initiative which has supported more than 650 digital and creative businesses and has made a significant contribution to the local economy as a result.
‘Teesside University has had a shared vision for the growth for the digital and creative sector within Tees Valley and particularly Middlesbrough for over 20 years,’ Lynsey Robinson, deputy director of economic development and operations at Teesside University, said. ‘Working with partners flexibly has enabled us to develop projects in line with funding opportunities and government priorities over time. Enabling a long-term approach to innovation-led economic development is vital in an area like Tees Valley.’
While collaboration between higher education establishments, local authorities and businesses are encouraged, co-authors of the report said: ‘There are important roles for other local parities too, including communities, investors and further education.
‘National government should assist by ensuring sufficient financial performance, and cultural incentives for institutions and individuals to focus more deeply on economic partnerships, including ensuring they are sufficiently resourced for important roles in driving innovation and wider economic growth, responding to local and regional economic conditions.
‘Agendas and structures may differ between the agendas of the UK and devolved governments, but these principals are long-term and consistent.’
In similar vein, John Rayson of AtkinsRéalis, added: ‘Universities play a key role in regional economic development as engines for innovation. There is an increasing recognition that regional strategies for socio-economic growth must reflect the priorities of local communities and the potential for new and existing industries to develop, expand and innovate to unlock opportunities.’
The report can be read in full here.
Photo by Brett Jordan via UnSplash
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