Regional economy is strong enough

THE North West is strong enough to withstand the worst economic conditions for 30 years, according to Steven Broomhead, chief executive of the Warrington based North West Development Agency.
He was speaking at the agency’s annual conference in Liverpool today (Friday).
Mr Broomhead, (pictured) former chief executive of Warrington Borough Council and a former principal of Warrington Collegiate, gave an upbeat assessment of the region’s economy.
He said: “We have built a strong platform to withstand the cooling economy. We are the leading region outside of London in attracting foreign direct investments.
“During the past year we attracted 150 of these, creating or safeguarding 14,500 jobs.”
Mr Broomhead said the region had strengths in sectors likely to be more resilient, including energy, defence, advanced manufacturing, engineering, science and innovation.
Knowledge-based businesses were the key to the region’s economic success, along with the growth of internationally competitive sectors such as automotive and creative industries.
The event host, broadcaster Jim Hancock, also interviewed NWDA chairman Bryan Gray, who is standing down at the end of the year, after six years.
The NWDA achieved excellent results in 2007/08, exceeding all targets set by Government.
Working with partners, the Agency has created and safeguarded over 17,000 jobs, created or attracted almost 2,000 new businesses to the region, helped over 20,000 businesses to improve their performance, attracted £489 million of investment to regenerate deprived areas and regenerated almost 300 hectares of brownfield land, the conference was told.
Mr Broomhead added: “”Today has provided an important opportunity to showcase the work that the agency has been involved with over the last 12 months, and the real difference we and our partners are making, both on the ground across the North West and nationally to champion the interests of our region.
“It has been another hugely successful year for the North West, and the agency’s strategic leadership has continued to create significant added value to the regional economy. It is vital that we build on this moving forward, whilst ensuring that the region is in a strong position to tackle the challenging global economic conditions ahead. Working in partnership, the NWDA will continue to ensure that we are focused on delivering re al transformational change for our economy.”