The UK government’s pivot to industrial strategy comes at a time of global uncertainty. After four years of bold claims about a post-neoliberal economic settlement in the US, much of former President Biden’s economic legacy appears at risk. Despite this uncertain future for industrial policy overseas, the UK government is rightly pressing ahead, publishing its new industrial strategy last month. As policymakers turn to questions of delivery, one aspect of the strategy merits particular attention: its focus on place.
This report will use a case-study approach to unpick the key features of the US’s place-based turn under Biden. First, it will offer a definition of place-based industrial policy and an overview of the rationale and evidence base underpinning it. Based on case studies in Manchester, NH, Birmingham, AL, and Binghamton, NY, as well as interviews with federal and local policymakers, the paper will identify five conditions that appear necessary for delivering successful place-based industrial policy on the ground. These conditions can be summarized as: an economic vision; aligned governance; civic leadership; flexible, sustained government partnership; and viable projects. Finally, this paper will make recommendations for the UK government as it seeks to incorporate place into its industrial strategy to revive the UK economy and achieve its mission for growth.
Author Huw Spencer