Member Article

Adonis Review

The North East Independent Economic Review commissioned by the region’s Local Enterprise Partnership (NE LEP) presented its much awaited report on Thursday and very welcome it was.

The region has been affected by a great deal of change over the last five years, from economic recession to Government policy, and there is a recognition that we can only move forward with collaboration across all stakeholders.

The review – led by Lord Andrew Adonis – was awaited with great anticipation and highlights five priorities that need to be addressed, which are:

Champion “North East International”, promoting the region at home and abroad as a magnet for trade, talent, tourism and inward investment.

A doubling in the number of youth apprenticeships to tackle the evil of low skills and high youth unemployment, alongside higher school standards and an increase in the proportion going on to higher education.

The development of strong “innovation and growth clusters”, stimulating universities and their graduates, and existing companies and public institutions, to create and finance new high-growth enterprises and jobs.

Big improvements in transport infrastructure and services to overcome the relative national and international isolation of the North East and to improve connections within the North East so that people can get to and from work more easily and cheaply.

The creation of stronger public institutions, including the location of key national institutions – such as the new British Business Bank – in the North East.

There is a clear understanding that we all have our role to play in this, with the public and private sectors working together. That means you, me, the Government, the Combined Authority of all seven North East local authorities and the NE LEP.

The Commission says that “By these means, the North East can create more and better jobs, and a better economy and society.”

I congratulate the Commission, which in the six months has consulted fully and widely. It has clearly listened to the submissions from all sectors in the North East economy. The workshops that I attended were full of anticipation and enthusiasm for the outcome of the report.

At the public presentation of the report I asked: What is next? Paul Woolston, Chairman of the NE LEP, responded that it is for all of us in the region to support delivery and do what they can.

I am happy to rise to the challenge – and in my specialist area of land, property and construction there is much to tackle.

We need to ensure there is an adequate supply of sites and premises available to meet rising demand and an adequate supply of investment finance in property and construction to ensure we kick-start construction in commercial property and housing.

Some of the steps that I and others in the profession see as urgent are:

Setting up a North East Combined Shadow Authority to push forward while the full Combined Authority is established (apparently it will take up to a year to do this and we simply cannot wait that long).

We need a public knowledge base of strategic sites and premises in the North East to attract inward investors and support the growth of indigenous businesses (in simplistic terms we need to list our stock).

The physical barriers preventing sites from being brought forward for development need to be addressed. This will produce a timed and costed programme of tasks through which we can deliver those sites for early development.

The creation of an Economic Development team to market the whole of the NE LEP region globally. This is important both internationally and locally. Inward investment is vital but we can achieve the fastest growth through indigenous businesses.

Our marketing strategy must quickly set out our stall on three levels; highlighting the benefits of the region, each strategic growth area and each development site.

Remove the red tape of public sector procurement. This is lamentably slow and as a region we need to quicken the pace for making sites available for regeneration and development and the delivery of construction, particularly much-needed infrastructure.

There is a great deal of enthusiasm in the land, property and construction sectors and this must be harnessed to help the NE LEP do its job more effectively. If you want to get involved, please send your details by email to me at Kevan@jkpropertyconsultants.com

This was posted in Bdaily's Members' News section by Kevan Carrick .