Let’s cut the fanfare. Economic Development is not a press release, its not a claim of a golden future in a manifesto or strategy. It’s a job, on the ground, in a neighbourhood.
In the UK, we’ve perfected the art of the launch eventโthe glossy, aspirational strategy, the political photo-op. Yet, the real, foundational workโthe hard yards of deliveryโis consistently underfunded, understaffed, and neglected.
The biggest threat to our local and regional economies isn’t market failure; it’s the Institutional Failure to transition from political slogan to tangible action.
If you are a leader, manager, or professional, here are the three cold, hard truths about what actually mattersโand how to fix your focus:
๐ญ. ๐ง๐ต๐ฒ ๐ฃ๐ฟ๐ผ๐ฑ๐๐ฐ๐ ๐ถ๐ ๐ก๐ผ๐ ๐๐ต๐ฒ ๐ฃ๐ฟ๐ผ๐บ๐ถ๐๐ฒ. ๐๐’๐ ๐๐ต๐ฒ ๐ฃ๐ฎ๐๐ฒ๐บ๐ฒ๐ป๐.
Stop obsessing over the narrative (the PR). Start obsessing over the Product (the Delivery). Your ability to attract capital is not judged by your vision statement; itโs judged by the quality of your infrastructure, skills base, and speed at which you respond to opportunities.
The PR Lie: Promising an “Innovation Economy.”
The Delivery Truth: Where is the shovel-ready site? If you cannot offer an investor certified, de-risked land with utilities to the edge, modern digital connectivity, and a proven talent pipeline, you don’t have a product or a project.
The Mandate: Shift your budget and your executive time into programme and project delivery.
๐ฎ. ๐๐ฒ๐น๐ถ๐๐ฒ๐ฟ๐ ๐๐ ๐ฎ ๐ ๐ฎ๐ป๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐ ๐๐ถ๐๐ฐ๐ถ๐ฝ๐น๐ถ๐ป๐ฒ, ๐ก๐ผ๐ ๐ฎ ๐ฃ๐ผ๐น๐ถ๐๐ถ๐ฐ๐ฎ๐น ๐๐ต๐ฒ๐ฒ๐ฟ๐น๐ฒ๐ฎ๐ฑ๐ถ๐ป๐ด ๐๐ ๐ฒ๐ฟ๐ฐ๐ถ๐๐ฒ.
The strategy itself is the easy part.
The relentless, year-on-year grinding work of execution is where the professionals separate themselves from the amateurs.
The Hard Yard: Implement the 5-Stage Business Case on every major initiative. This isn’t bureaucracy; it’s a Discipline of Integrity. It forces you to prove, with evidence, that your project delivers maximum Value for Money (VfM) and addresses genuine market failure with minimal Deadweight (i.e., funding something that would have happened anyway).
The Organisational Excellence Fix: build strategic pragmatism and organisatonal excellence. Train and develop staff, implement delegation.
๐ฏ. ๐ ๐ฒ๐ฎ๐๐๐ฟ๐ฒ ๐๐บ๐ฝ๐ฎ๐ฐ๐, ๐ก๐ผ๐ ๐ก๐ผ๐ถ๐๐ฒ.
Stop Counting: Number of reports published, events held, social media likes, or positive political quotes. (The Noise)
Start Measuring: Net Economic Impact (new jobs, GVA/GDP increase), private capital unlocked, reduction in skills gaps, and retention rate of key local firms. (The Impact)
Your strategy should be a deliverable contract with your local businesses and residents. Your legacy will be built on jobs and investment.
#EconomicDevelopment #Delivery #LocalGovernment #UKPolicy #Leadership #HardYards #Professionalism
