Research & Economic Monitoring
The NWDA’s main role is to stimulate economic growth and
regeneration in the Northwest. To develop effective strategies and
plans - such as the Regional Economic Strategy, Corporate Plan and
Business Plan - the NWDA needs up-to-date, accurate and reliable
information to base decisions on.
Regional Intelligence Unit
The Northwest's economic observatory, the Regional Intelligence
Unit is hosted by the NWDA and provides a full range of research
and economic data about the Northwest for the NWDA, its partner
organisations and businesses in the region.
The RIU holds information to present an accurate and
continuously updated picture of the socio-economic and
environmental structure of the Northwest.
The RIU’s main role is to:
- Provide analysis of data and research
- Produce briefings
- Help disseminate information
- Widen access to intelligence
- Conduct research to fill data gaps
- Answer information and intelligence enquiries
The Unit has data mining, web development and Geographical
Information Systems capabilities. It is the Official Census
Repository 2001 and 1991. It holds databases of the region’s
businesses and digital aerial photography covering the entire
Northwest.
Economic Representation
As well as undertaking research and producing economic reports,
we have representatives on a number of regional economic bodies,
where our role is to: report on the region’s economy; support the
region’s economy; and raise issues and concerns affecting the
region’s economy.
Regional Economic Forecasting Panel
Funded by the NWDA, the Regional Economic Forecasting Panel
provides economic forecasting using expert analysis of supplied
economic data. The Panel produces three-year forecasts for the
Northwest, updated on a six-monthly basis, and a long-term forecast
consistent with the planning horizon for the Regional Economic
Strategy.
The Panel - which was set up in 2003 and comprises 17 senior
representatives of business, academia and the public sector in the
Northwest - is chaired by Andrew McLaughlin, Group Director,
Communications and Group Chief Economist for Royal Bank of
Scotland.
Regional Economic Forum
In partnership with the GONW, the NWDA leads the monthly
Regional Economic Forum. The Forum also includes representatives
from 4NW, EEF, CBI, ACAS, TUC, Jobcentre Plus, the Bank of England,
IOD, Sub-Regional Partnerships and private sector partners.
The Forum debates current issues for the Northwest economy - and
from this debate it produces a qualitative monthly overview of
current economic circumstances. The summary includes anecdotal
evidence of regional business issues. The report is used to brief
Government to inform its decisions, such as the introduction of
Trade Credit Insurance in the 2009 Budget.
Joint Economic Commission
The NWDA has representatives on the Joint Economic Commission
(JEC), which exists to make sure the region’s economy emerges from
the current downturn stronger than before.
Led by GONW and chaired by the Regional Minister, the JEC also
includes representatives from 4NW, CBI, Greater Manchester Chambers
of Commerce, the Northwest Business Leadership Team, the NHS,
Jobcentre Plus, the Highways Agency, the Homes & Community
Agency, the Learning & Skills Council, the TUC, and private
sector and voluntary sector partners.
The JEC reviews information and intelligence on the impacts of
changing economic circumstances and agrees a regional response to
them. The JEC supports the Regional Economic Council.
Regional Economic Council
NWDA Chairman Steven Broomhead is a member of the
Regional Economic Council (REC), which exists
to make sure issues affecting each region are fed through to
Government. It also acts as a sounding board for Government
policy.
Co-chaired by the Secretary of State for the Department for
Business, Innovation & Skills (BIS) and the Chancellor, REC
membership includes the Chairs from all nine Regional Development
Agencies, Regional Ministers and representatives of business and
the TUC.
- The REC is supported by the Regional Economic Forum and Joint
Economic Council, and supports the National Economic Council.