A partnership between local authorities and businesses has unveiled a strategic economic plan to deliver jobs and economic growth to help Coventry recover from the COVID-19 pandemic.
The Coventry and Warwickshire Local Enterprise Partnership (CWLEP) has worked with six business groups to create its Strategic Reset Framework, focusing on its short, medium and long-term prioritises to help businesses adopt new ways of working due to COVID-19.
Local enterprise partnerships work to help determine economic priorities at a local level and thus lead economic growth and job creation in the area.
The 15-page document’s objective is to help to reset the local economy for a successful, inclusive, sustainable, and resilient future; stating that a “fundamental reshaping of our whole economy” will be needed, “not a return to pre COVID-19 norms”.
An emphasis on technology is outlined, with “bold approaches” needed to interpret emerging trends that can build on existing sector strengths.
Digitisation, automation, robotics and AI are all named as key area for the future.
Nick Abell, chair of the CWLEP, said the last nine months have turned everyone’s world upside down and have impacted every family and business across the world.
He explained: “The sole purpose of CWLEP is to drive forward our local economy and LEPs exist because local factors, local intelligence and local connections can make a real difference if they are harnessed in the right way.
The CWLEP works closely with the local Chamber of Commerce and FSB to support businesses in the area, and it is thought that the business intelligence provided by the report will further support businesses in tackling the next six months.
Marion Plant, vice-chair of the CWLEP, said the Strategic Reset Framework was focused on helping the economy return to growth in all areas throughout Coventry and Warwickshire.
She said: “We need to deliver the right conditions to foster the creation of those next generation jobs, innovative new enterprises, and imaginative new business models that will be sustained and sustainable.
“We will take a detailed look at how unemployment is affecting our young people, and determine actions to help tackle it.
“There has never been a more important time to capitalise on the expertise of our partners to deliver the jobs and growth we need to thrive again in Coventry and Warwickshire.”
To view the CWLEP’s Strategic Reset Framework, visit cwlep.com/key-publications.