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Dynamic Economic Impact Model (DEIM) – Skills and Business Support

The West Midlands Combined Authority (WMCA) commissioned a new, bespoke economic modelling framework delivered in 2016.

Background

The Dynamic Economic Impact Model (DEIM) is a best-in-class regional model which provides a robust mechanism to measure the economic impact of investments in a spatial context. City-REDI were a partner in the consortia along with KPMG (lead), and David Simmonds Consultancy Ltd, and we led on the development of the skills and business support elements of the model.

Funder/client: WMCA

Timescale: 2015/2016

Contact

Project Lead: Rebecca Riley (r.riley.1@bham.ac.uk)

Objectives

The DEIM model represents a significant departure from previous modelling techniques which could only consider projects in isolation. Instead, it can consider investments of different types both individually and jointly, and forecast synergies or conflicts in their consequences.

On a project-by-project basis, DEIM can help to:

  • Understand the impact of individual investments in terms of their economic impact (as measured by ) to robustly and transparently prioritise investment across the three WM LEP areas
  • Appraise and prioritise different types of interventions (e.g. housing versus transport) on a level playing field

At the programme level, DEIM can help to:

  • Assess investment programmes against secondary criteria that ensure local balance
  • Provide robust analysis of national impacts by taking account of growth any growth that might have been displaced from elsewhere in the country
  • Create an integrated spatial investment strategy and assess that against the WM vision
  • Consider the level and spatial distribution of land use needed to achieve the WM vision
  • Test and optimism investment programmes

City-REDI focused on:

  • Skills programmes, including NVQ and apprenticeship schemes
  • Business support (e.g. access to finance, trade facilitation)

The Team


  • Co-Director, City-REDI
  • Deniz Sevinc, Assistant Professor in Industrial Economics, Business and Labour Economics Group
  • John Bryson
    Professor of Enterprise and Economic Geography

Publications and downloads


July 2016.


July 2016.


July 2016.

(City-REDI Blog, November 2016)