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In April 2010 Local Authorities were required to complete a Local Economic Assessment (LEA) of their area. The aim was to provide a comprehensive picture of the local economy, pulling together a wide range of data and evidence to tell a story of place. This guidance was revoked in July 2010, allowing local authorities greater scope to use the duty as they see fit. On this basis, the Island LEA will provide the Council and its partners with a robust analysis of local economic conditions that will be used to inform economic policies and interventions.
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