Gross Value Added (GVA) measures the contribution to the economy of each individual producer, industry or region in the United Kingdom. GVA per full-time equivalent (FTE) job is a way of measuring productivity. The North East Strategic Economic Plan sets a target to reduce the gap between the North East LEP area and England excluding London on GVA per FTE by 50% by 2024.
Between 2014 and 2015, the gap between the North East LEP area and England excluding London had increased by 9%.
However, there has been a discontinuity in the data that underpins the FTE element of this measure. Changes have also been made to regional GVA data (with a new balanced GVA figure published for the first time in December 2017) and there is a case that it would be more appropriate to use an alternative indicator. As a result, this target is being reviewed by the North East LEP, in consultation with partners. Once the revised target is agreed, data will be provided on this page.