Ten Characteristics’ of Successful Regional Development Programmes
Over the past 40 years, economic agencies around the world have worked to stimulate regions that have either been affected by some sort of market failure, such as economic recession, or failure of a particular industry, such as the Sherry industry in Jerez Spain in the 1990s, or the British car industry around Birmingham in the late 1970s. Some regions, too, for historical, economic, or social reasons, seem to lag behind other areas in an economy. The key question is: what can you do to reinvigorate these regions. The answer is, of course, many things. From enterprise assistance schemes, to infrastructure development, to small business training schemes, to urban renewal, trade fairs, grants to new businesses, innovation assessments, and many other measures. If you look across the board at these sorts of initiatives ten key characteristics emerge, that I believe, categorize the most successful programmes in regional economic development.
1. Clear Leadership – a single group acts as a hub in the centre of activities, coordinating the
work of the various groups involved. Often this leadership group has a local government
connection.
2. Clear Strategy –Based on an assessment of the regions strengths and weaknesses, there is a
clear strategy articulated for growth.
3. Reflect Local Needs/Resources – Any intervention must be compatible with local needs and
resources. There must be an empathy or understanding of regional differences.
4. Partnership – There is a interlinking of people/ideas/resources. Usually there is a strategic
partner in the background providing information and validation to the development
activities.
5. Based around Innovation and Entrepreneurship – enterprise, generating wealth from new
ideas, new businesses, new markets and growth is fundamental. In this manner,
development is founded in the ‘real economy.’
6. Aimed at Sustainable Development – activities are aimed at deepening local
markets/communities/capabilities. That the people and economies of the region become
increasingly self-sustaining – including greater capacity to address future challenges.
7. Integrated Response – interventions are not based on a single industry, nor an industry that is
vogue in the moment, Rather across industry and sectors.
8. Aspirational- economic growth has a social and cultural aspect. Activities must be undertaken
that raise expectations and possibilities in the minds of the people
9. Robust Funding – there should be a robust and continuous funding mechanism. Locally-
based funding is best, that the project may be directed from the ground at the location and
becomes increasingly independent.
10. Action-based – the most successful programmes are those where there is a very short time
delay between planning and doing. Effective programmes are action orientated.