Northwest Regional Development Agency
Economic Potential of Preston – Draft Final Report
FDI has chosen to locate in central Lancashire, instead locating at less well connected destinations such as Chester Business Park (MBNA, Marks and Spencer Financial Services) 2.27
This range of key areas where Central Lancashire has not, perhaps, fully realised its potential provides the rationale for carrying out this study.
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This commission seeks to explore the potential contribution of the city and its surrounding area in driving the regional economy. This could be through the internal maximisation of its assets (the potential for Preston to generate growth in itself) and /or through the exploitation of economic complementarities and linkages with Manchester and Liverpool in particular but also including other centres within Lancashire.
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As this study will provide an evidence base for the forthcoming Integrated Regional Strategy, the partners are also looking for a strategic view of the potential additionality of developing a strategic role and function for Preston. In short, how economic potential can be realized through more effective and coordinated strategic planning and linkages to broader economic and spatial ‘drivers’.
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The strategic view needs to take account of the following factors: •
any recent major investments and business growth in the city;
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the economic geography of the including trading relationships in the main business sectors, within the area and with other regional centres;
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the potential for any integrated transport solutions;
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the potential to ensure development in this area is carbon neutral;
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the opportunities for developing an appropriate mix of housing, and releasing land for employment use and the effect of these enabling factors on green space and quality of life;
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the potential for tackling the specific deprivation existing in parts of this city; and
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how global business trends may impact on the city.
Substantial consideration has been given to the way in which large towns and their city regions function economically, and investigation continues as to the range of drivers that influence their economic prospects. We know much less, however, about the lower levels of the economic and settlement hierarchy - about the different roles that smaller towns play in
May 2009
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