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Economic Geography, Linkages and Low Carbon Economy

Economic Geography, Linkages and Low Carbon Economy. Economic Performance, Drivers and Comparisons John McCreadie – 6 th July 2010. Presentation Structure. Answering the Questions:

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Economic Geography, Linkages and Low Carbon Economy

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  1. Economic Geography, Linkages and Low Carbon Economy Economic Performance, Drivers and Comparisons John McCreadie – 6th July 2010

  2. Presentation Structure • Answering the Questions: • Which key sectors and sub-sectors have played the most important roles in driving employment and GVA growth in the City Region over the last decade? • How does the City Region compare with other, similar city regions, in the terms of its economic specialisms? • Are the high employment and GVA sectors of the recent past the ones which will drive economic change in the future?

  3. Broad Economy Overview

  4. Broad Economy Overview

  5. Benchmarking Tyne and Wear City Region • TWCR employment growth has outperformed other northern CRs since 2000 (except Sheffield) • TWCR is most similar to Sheffield, Liverpool and Glasgow • Much higher rates of employment growth in Tourism; Digital and Creative; Financial, Professional and Business Services; and Public Sector • Employment in TWCR is more highly concentrated in Public Sector; Automotive; and Tourism

  6. The Employment Gap • Over 33,500 jobs across 6 private service sectors are required to close the employment gap with the CR average • Increases to around 43,000 to close the gap with the national average • High levels of growth needed to achieve this e.g. Transport (+40%), Financial, Professional Business Services; and Digital and Creative (+20%)

  7. Sectors Offering Opportunity • Identifying sectors with ability to bring money into TWCR • Three groups: • Private service sectors • Public Sector: sub-sectors not dependent on local demand • Industrial: stabilising manufacturing employment based on acknowledged strengths and market opportunities including Low Carbon • Account for c.20% of the total economy

  8. Summary • City Region catch up driven by growth in private sector service economy • Further catch up required to match City Region peers • Financial and Professional Business Services are the most likely source of employment and GVA opportunities • Opportunities in Creative and Digital and Tourism

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