How Steer Economic Development uses The Data City to unlock economic insights

Steer Group has been a prominent player in the transportation consultancy industry for over four decades. Initially established in the UK, it has since expanded globally, offering a range of services primarily focused on transport infrastructure.

In 2017, Steer Economic Development was formed with an ambition to diversify Steer’s offer into adjacent economic development areas such as enterprise, innovation, skills, and wider enabling infrastructures. Steer-ED work with local and regional authorities, national government and universities on the whole spectrum of economic development, ranging from policy development and analysis, to strategy and action planning, and on to evaluation and impact assessment.

In early 2022, faced with the challenge of traditional SIC codes falling short and a growing need to identify growth opportunities and areas of innovation, Steer Economic Development sought a solution to bolster their analytical capabilities. Turning to The Data City, they recognised its potential to provide comprehensive insights into local economies, emerging sectors and high-growth businesses.

Josh Stott, Head of Steer Economic Development, and his team currently utilise The Data City platform to support economic strategy development. Leveraging Real-Time Industrial Classifications (RTICs), they are able to delve into the modern economy, identifying local strengths, specialisms, and innovations across the UK.

The platform also enables Steer Economic Development’s clients to explore beyond traditional sectors, uncovering areas of innovation and identifying cross-sector opportunities, such as net-zero initiatives and modular construction.

Now forming a part of their process, Steer Economic Development have seen The Data City’s ability to fill a big gap in the current understanding of how economies can function.

The platform’s in-depth data and tools, and view of the emerging economy, enhances the team’s analytical capabilities and helps drive impactful economic development strategies for their clients.