LEAP: Local Economic Area Profile
LEAP creates a picture of the economic strengths and weaknesses of an area, by drawing together a range of measurements.
LEAP: Local Economic Area Profile
LEAP creates a picture of the economic strengths and weaknesses of an area, by drawing together a range of measurements.
Data is used to suggest how businesses in the local economy form concentrations (or clusters) of linked industries. We then create a robust evidence from which we develop a strategy. The strategy identifies market failures and the action or interventions that the private sector and public sector might implement to correct them.
LEAP is based on a sound theoretical model of economic development as indicated in the table below.
| Indicator | Strong economies typically demonstrate... | |
|---|---|---|
| a | Number of firms and employees, densities and location quotients | Concentrations of firms, easily grouped into a small number of industrial strengths |
| b | Sector growth and fertility | Steady employment growth, and high churn (both start-up and closure rates will be high) |
| c | Productivity | High level of productivity, particularly in local industrial strengths, |
| d | The choice available within business services | High level of choice and capacity available for firms seeking business services |
| e | Foreign Direct Investment | High levels of FDI, which stimulates innovation amongst indigenous firms |
| f | Innovation | High levels of patenting activity, again particularly within recognised industrial strengths |
| g | Retail Variety | A mixture of retail stores of varying sizes, selling a wide range of products |
LEAP is modular - LEAP A (above) is the basic analysis, and other modules (b - g) can be included if required.
LEAP is available for any local geography, definable by district, ward or even postcode range. LEAP is also comparative - data is produced not only at the local geography of interest, but at UK level and one other area of interest to the client (e.g. the wider region, or another comparator local geography).
Click here to find out more about the LEAP modules.
LEAP in Action
LEAP has already been conducted for a number of local geographies, including Peterborough, the Park Royal area of London and Portsmouth.
