A regional economic performance matrix: an aid to regional economic policy development

This paper presents a model for regional policy makers as an aid to developing policy for regional economic development. The approach to developing the model follows strategic management principles whereby planning is based on setting objectives in the light of environmental scanning for factors that are relevant to development. The model also addresses some of the concerns associated with regional policy planning, namely whether the approach should be driven from the top-down or the bottom-up. Given the regional context, the model positions towns in terms of how well their employment creation corresponds to regional benchmarks. The model therefore provides policy direction for regional town planning. The Richmond-Tweed region is used as a practical example.