Two strategies in the East Midlands are of particular relevance to the work of EMEO: the Regional Economic Strategy (RES)and the Integrated Regional Strategy Framework (IRS) .

Regional Economic Strategy

emda is responsible for the development of the RES which sets the framework for ensuring the long term sustainable economic growth of the region.  The fundamental purpose of the RES is to improve economic performance and enhance the region’s competitiveness.  It does this by addressing the market failures that prevent or limit sustainable economic development, and supporting regeneration and business growth.

The Strategy is the product of a major consultation exercise in which the views of several thousand stakeholders and businesses across the region have been sought.  It is owned by the region and will be delivered only through the combined efforts of business and business leaders, democratically elected representatives, community leaders and those local and regional bodies and agencies tasked by Government to deliver quality and inclusive public services.

This Strategy ensures better strategic focus and co-ordination of activity in the region.  It also provides for regional opportunities to be fully exploited, and is intended to secure effective joint working, with common and accepted goals and priorities for regional development.

A Flourishing Region is the East Midlands third RES and sets out the region’s aspirations and vision over the next decade or so to 2020.  Its vision for the region is that:

By 2020 the East Midlands will be a flourishing region – with growing and innovative businesses, skilled people in good quality jobs, participating in healthy, inclusive communities and living in thriving and attractive places.

The Vision will be measured using a ground breaking Regional Index of Sustainable Economic Wellbeing (ISEW), which has been developed to allow progress towards the twin aims of sustainable economic growth to be monitored.

The vision is underpinned by three main themes:

• Raising Productivity: enabling our people and businesses to become more competitive and innovative;

• Ensuring Sustainability: investing in and protecting our natural resources, environment and other assets such as infrastructure; and

• Achieving Equality: helping all people to realise their full potential and work effectively together to enrich our lives and communities.

In addition, the RES both reflects and contributes to, the revised Lisbon Objective of Jobs and Growth and provides the link to a range of European policies, priorities and funding opportunities, including the 2007-2013 Structural Fund Programmes.

For more information, please visit www.emda.org.uk/res

Integrated Regional Strategy

The RES sits within the framework of the Integrated Regional Strategy (IRS) – the development of which is led by the East Midlands Regional Assembly. The IRS ensures that policies and strategies developed for the benefit of the East Midlands are prepared in a sustainable and integrated way.

For more information please visit www.emra.gov.uk/publications/regional-communities-policy/irs-framework