Newham's Local Economic Assessment 2010 to 2027

In preparation for the development of an Economic Development Strategy, Newham started mapping the evidence base for an assessment of local conditions in the area to ensure there was a common understanding of the local economy, economic geography and the economic, social and environmental factors that impact on economic growth.

This assessment of local economic conditions led to the determining of three strategic priorities for the Economic Development Strategy completed in October 2010.

These priorities are:

• Investment in the new economy
• A stronger business base
• More People into work

In April 2010, Section 69 of the Local Democracy, Economic Development and Construction Act 2010 placed a statutory duty on all upper tier local authorities to prepare a Local Economic Assessment (LEA). The duty is part of a policy to grant local authorities greater power and influence over supporting economic growth in their area.

The purpose of LEAs is to:

• Provide a sound understanding of the economic conditions in the area and how they affect the well-being of residents and businesses.
• Identify the economic linkages between the area assessed and the wider economy.
• Identify the comparative strengths and weaknesses of the local economy and the nature and form of local economic challenges and opportunities.
• Identify the constraints to local economic growth and employment and the risks to delivering sustainable economic growth.

In Sept 2010, the new Coalition Government removed the statutory requirement on local Government to prepare an assessment of local economic conditions and allowed them together with the newly emerging Local Economic Partnerships to determine the breadth and scope of their own assessments reflecting their local priorities.

Newham Local Economic Assessment 2010 to 2027 (pdf)

Newham Local Economic Assessment 2010 to 2027 (Word doc.)