IT is a picture that has taken some time to come together, but now that the region’s second local enterprise partnership (LEP) has been given the go-ahead, we have a sense of the new organisations that will be in charge of revitalising our economy.

The North-Eastern LEP, which covers seven local authority areas, embracing County Durham, Tyne and Wear and Northumberland, and represents about two million people, is ranked among the largest in the country.

It will be crucial that it has the power and resources to change things for the better for its area.

There has been a growing uncertainty about how economic affairs in the North-East will be managed, that exacerbated by the winding down of One North East, ahead of its closure in March next year.

However, the landscape is beginning to become much clearer and businesses can begin to look ahead to a very different approach to wealth creation in this part of the world.

These new arrangements see the North-Eastern LEP and the Tees Valley LEP, both given the remit of regeneration and local economic affairs, alongside the North-East Economic Partnership (NEEP), which is responsible for broader, region-wide, strategic issues.

There are, of course, still a number of issues that need to be ironed out and clarity is needed on what the exact scope of each of the organisations will be.

However, what is clear is that this represents an important first step for the region, setting the groundwork for a fresh new approach.

It is only through combined effort that the three bodies we now have representing our region can really make change. What we absolutely must see is the organisations working together, and engaging businesses to effect change that will improve the economy.

There will clearly be issues of overlap between the two LEPs and it will be critical they work in unison. The role of the NEEP will be crucial in ensuring that broader economic decisions are made for the greater good of the region.

All three new bodies have a crucial role to play to back business growth.

The trick will be in ensuring that they genuinely do work together to unlock the potential that exists here, ensuring that the North-East is given the support it needs to hold its own on a national and international stage.

* Ross Smith is head of policy at the North East Chamber of Commerce.