Local Economic and Community Plans LECP | Guidelines 2021
Economic Action Area 6: Further specific economic development action in line with regional priorities: This involves proactive measures specifically designed to promote economic activity, beyond the mainstream Local Authority functions referred to in Economic Action Area 2. In contrast to the other action areas which are largely within the remit of individual Local Authorities, many of the actions in this area need to be pursued primarily in a regional context and should be strongly informed by the work of the Regional Enterprise Plan Steering Committee, particularly to identify matters that should be pursued on a regional or inter-authority basis rather than by authorities individually. Particular features of this action area are likely to include:- The Economic Strategy as set out in the Regional Spatial and Economic Strategy (RSES); Engaging with key business leaders and organisations in the area and region to identify the greatest potential for economic development and how the Local Authority can contribute to its achievement, especially through the Regional Enterprise Plan Steering Committee. In addition, Local Authorities, through this forum, should focus efforts on promoting and supporting the competitiveness of their area and wider region; Working closely with key economic development agencies such as the Department of Enterprise, Trade and Employment, Enterprise Ireland, IDA Ireland, and Fáilte Ireland, to ensure a coherent and coordinated approach to economic development, adding value to their efforts by virtue of the Local Authority’s particular capacity, expertise, knowledge and standing. Particular focus should be on economic activities or sectors that are strongly “place related” or related to functions or services for which the Local Authority is responsible. It should be noted that the development of the new Regional Enterprise Plans to 2024 which are expected to be launched in Q3 2021 will be critical in this regard;
Identifying factors related particularly to the area that can contribute to economic development, including particular advantages, strengths, capacities, opportunities, potential synergies, linkages, and other factors favourable to increasing enterprise, investment, and economic activity, and the development of associated place branding and marketing initiatives to exploit these advantages. This function will be strongly informed by the information and analysis outlined in Part 1 of these guidelines; Working in tandem with wider economic initiatives, including programmes such as the URDF Urban Regeneration Development Fund, Rural Regeneration Development Fund, the Regional Enterprise Development Fund, the SFI Research Centres Programme, the Strategic Banking Corporation of Ireland (SBCI), the Irish Strategic Investment Fund(ISIF) and a sub-portfolio of ISIF to be known as the Pandemic Stabilisation and Recovery Fund (PSRF), to identify how Local Authorities, particularly in a regional context, can best support and capitalise on such initiatives in their economic development role; Promoting integrated urban development, particularly in larger urban centres, including the mobilisation of efforts to secure substantial new enterprises, whether through attracting foreign direct investment or expansion of indigenous enterprises, which can yield a significant quantum of high-quality, sustainable employment, geared towards current and evolving markets, with capacity for growth and where possible, spin-off economic activity; Engaging proactively with third level institutions and other education service providers and research institutions and other education service providers and research institutes to develop the local workforce and to meet the identified needs of business sectors; and Working with telecommunication providers to support and facilitate the sustainable development of high-quality digital connectivity infrastructure in order to provide for balanced digital connectivity that improves economic competiveness over time.
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