Anthony Plumridge: Key Sectors

Key Sectors in the West of England
Anthony Plumridge
Bristol Business School

What makes a sector Key?
Scale – significant for the sub-regional economy
Growth potential – recent growth best indicator
Above UK average as proportion of employment (Location Quotient >1)
High external income generation (large proportion of revenue from outside sub-region)
High income retention (high local multiplier)
1 to 3 readily quantifiable from employment data
4 and 5 difficult to assess from available data

Identifying Key Sectors
Three employment criteria for judging the significance of a sector
Scale of sector – percentage of WofE employment
Growth of employment over 2004-2006
Importance of sector in WofE relative to importance of sector in UK as a whole sector using employment Location Quotients
These three criteria are combined:
Combined Measure = Location Quotient x Proportional growth x Employment %
Applied to 235 sub-sectors from the Standard Industrial Classification SIC 3 digit)

Ranking of WofE sub-sectors

Defining key sectors

What makes a sector Key?
Scale – significant for the sub-regional economy
Growth potential – recent growth best indicator
Above UK average as proportion of employment (Location Quotient >1)
High external income generation (large proportion of revenue from outside sub-region)
High income retention (high local multiplier)
Business survey to indicate “exports” and “imports”
Regional Accounts input-output model provides indicative multipliers

Income creation and retention index

Overall ranking of sectors

What sectors are other regions prioritising?

How competitive are WofE businesses?

Barriers to growth - suggested

Priorities for policy intervention
Supporting knowledge exchange and skills for innovation
Linking innovating high value added businesses with universities: events, workshops, KTPs, Quickmark
Technological forecasting – sector consultants
Working with sector support agencies to sponsor inter-sector collaborations:
ICT and Creative Industries
Advanced Engineering and Environmental Technology
Leisure and Tourism and Food and Drink
Ongoing infrastructure/premises improvement
Continue to collect data on key sector businesses, their markets and supply chains

Anthony Plumridge: Key Sectors

by South West Observatory on Feb 24, 2010

Accessibility

Categories

Tags

Upload Details

Usage Rights

2 Embeds 28

Statistics

Anthony Plumridge: Key Sectors — Presentation Transcript

http://www.swo.org.uk	27
http://swo.org.uk	1