North East Foundational Economy Alliance Launch Event

How can the North East create an economy that works for everyone?

This question has prompted fierce political debate over recent years. Some have argued that more incentives are needed to attract global investment, while others argue that wealth extraction is weakening the Foundational Economy and failing to meet the needs of all communities. There is a recognition that more evidence is needed.

This event will formally launch the North East Foundational Economy Alliance: an alliance of academics, co-operatives, community organisations and policy makers seeking to map the extractive economy and develop generative alternatives. It will set out some initial findings and provide plenty of time for discussion about future areas of work that should guide the alliance.

The event will launch a new website www.nefe.org.uk hosting an interactive map of all the property in Newcastle which is owned offshore along with investigations of two areas where economic value is leaking out of the city. These findings support the need for a review of the 2012 City Deal, which introduced the potential for perverse incentives, and the need to ensure that new city centre investment is transparent, properly evaluated and designed to serve communities.

What if even a fraction of the new investment was directed towards ‘generative’ forms of economic development that recirculate wealth and promote place-based innovation?

Discussions will be led on these points by Simon Grove-White, of the Centre for Local Economic Strategies, and Luke Devlin of the Centre for Human Ecology along with local partners.

This is a public event aimed at bringing together community organisations and academics and pursuing policy links. All are welcome in the spirit of hopeful change.

Event Programme

5:00 - 5:10	Chair introduction and outline of agenda Professor Simin Davoudi
5:10 - 5:40	The need for a North East Foundational Economy Alliance Dr David Webb Policy context and origins of the network The political debate around FE/ IE and the dearth of evidence Reading urban economic development: neoclassical vs wealth inequality perspectives Offshoring Newcastle? Land Registry data, PBSA and “City Deal” economics How to make a change? [setting up the break-out discussions]
5:40 - 6:00	Introductions to break-out options Option One: Simon Grove-White (Centre for Local Economic Strategies) Option Two: Luke Devlin (Centre for Human Ecology)
6:00 - 6:30	Parallel break-out discussions Break-out One (Simon Grove-White): Wealth that flows to all communities - can we use Neighbourhood Development Co-operatives instead of private sector contracts? Break-out Two (Luke Devlin): Developing place-based innovation as an overlooked regional strength/linking with the ecological and community empowerment agendas
6:30 - 6:40	Feedback from the break-out discussions
6:40 - 6:50	Launching the North East Foundational Economy Alliance Blog competition and prizes Website launch and academic members available to work on this agenda. Call for academic blogs with photographs. Call for non-academic partners. Date of September event to: Build details of an IAA Maximising Impact Award fund application Support Maeve Cohen and Lee Barker to develop their business plans for CICs aimed at supporting community wealth building/place-based innovation
6:50 - 7:00	Open up for final words from any potential research partners in attendance
7:00	Close, followed by optional drinks at Northern Stage

 

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