Where are the jobs of the future?

As we emerge from a savage recession and face up to public funding cuts, and the job losses that will go with them, a key challenge facing us is ‘how are we going to pay our way in the world and start creating the high value jobs we need for a more secure, sustainable and prosperous future?

This week the coalition government challenged council and business leaders to come up with the answers to exactly this question, by inviting them to put forward proposals for local enterprise partnerships to replace the regional development agency in working to strengthen local economies. Getting these right is going to be vital to the future prosperity of the Westcountry.

Much of the discussion so far has been about what they should look like – much more important, of course, is what will they do. The letter to council and business leaders from Vince Cable, Secretary Of State for business, and Eric Pickles, Secretary Of State for local government, states “we anticipate that local enterprise partnerships will wish to provide the strategic leadership in their areas to set out local economic priorities. A clear vision is vital”. I think we would all agree with that – so what should the vision be?

Firstly, local economic partnerships should focus on the fastest growing area of business – green jobs. Just as our mineral resources were at the heart of the industrial revolution, the rich renewable resources we are blessed with – wind, wave, tides, sun and more – can be the foundation of our future prosperity.

Regen SW’s research shows that jobs in business in the renewable energy sector grew by 75 per cent in the past two years – in the teeth of the recession. There are now almost 10,000 people directly employed in sustainable energy in the south west. That should be just a start. A recent report on plans for a new green bank concluded we will have to invest £550 billion as a country in the next decade to meet our climate targets and boost renewable energy. That investment could go to overseas energy and technology companies – or we could equip local companies to win the business and generate thousands of skilled long term jobs.

Secondly, local enterprise partnerships need to hit the ground running by building on the work already going on. Regen SW is working with over 700 businesses, local authorities, the regional development agency and many other partners on a huge range of exciting projects to help businesses create green jobs. There has, for example been fantastic work done to help local businesses lead the way in harnessing the power of waves - including the Wave Hub development the RDA is installing off the north coast of Cornwall this summer. Another example is Regen SW’s bioheat programme, which is enabling places such Lanoyce Horticultural Nurseries, near Saltash, and Castle Drogo on Dartmoor to replace costly oil supplies with woodfuel boilers – supporting sustainable management of our woodlands in the process. If you want to find out more, there is plenty of information on these and our many other projects on our website.
We must keep this work going and maintain the expertise we have developed - we simply cannot afford to stop for a year or more whilst we set up new institutions. You can bet our competitors overseas won’t wait for us to get our house in order.

Thirdly, we need to think big and bold. Why shouldn’t we lead the world in using the power of waves; be the first to build not just a few but thousands of zero-carbon homes of the future; or become the experts in enabling people to generate and sell their own energy? Lead the way in these areas and we will enable great businesses to develop, flourish and sell their technologies and skills around the world.

Finally, whatever geographical areas local economic partnerships cover, they need to work together to reduce costs, share expertise and, most importantly, provide the critical mass for major projects. Businesses work across boundaries, and local economic partnerships need to be fleet footed and just as willing to form partnerships with other areas to provide as good a service as the businesses they are in place to help.

With a clear vision, an ambitious programme, partnership working and a commitment to build on the many excellent projects already going on, local enterprise partnerships could help to answer the question of where the jobs of the future are going to come from. I would like to offer them our help in rising to the opportunity.

Merlin Hyman
Chief executive, Regen SW