The Economic Outcomes Programme Overview Report sets out a highly positive message regarding the major contribution that local authorities make to Scotland’s economy. The work looked beyond traditional economic development interventions to examine opportunities for further enhancing impact via ‘levers’ that typically do not feature explicitly in economic development strategies. The Overview Report focuses on three major corporate economic ‘levers’ that councils control/influence, in terms of their role as major employers, procurers of goods and services, and asset owners. These link closely to three of the 'pillars' in a Community Wealth Building approach.
The report summarises key points that have emerged from the 32 local economic footprint reports, which were produced for each council. The report also highlights a number of areas where there is likely scope for councils to further enhance their positive impact across each of the three 'levers' considered. The SOLACE economic development leads, SLAED, IS and COSLA agreed to work collectively to take forward a number of the key issues highlighted in the report.
Since the report was published Local Authorities in Scotland have developed how they can have a more positive impact on local communities and local economies, largely through a Community Wealth Building approach. This is one of a range of tools which can help to develop a Wellbeing Economy, which prioritises social justice on a healthy planet, ensuring that local communities benefit from their local economy, with wealth more fairly distributed and the large anchor organisations in an area using their role to help provide opportunities for communities to thrive.