Regeneration and economic development
The RDAs use regeneration to turn around local economies, lever in investment in both urban and rural settings and raise aspirations. They work with partners to improve the quality of the environment, revitalise communities, create more jobs, provide more skills, and improve transport and communications infrastructure.
Through engaging communities in economic development, RDAs also seek to promote greater cohesion and widen participation in the economy.
Since 2002, RDAs have reclaimed and revitalised over 5,600 of brownfield land. They have used their budgets to influence and deliver private sector investment for greater economic goals.
Following the Government’s Sub National Review of Economic Development, RDAs are set to integrate housing, planning and transport solutions into a single approach to regional economic development.
Some examples of RDA activity include:
- AWM’s recreation of Fort Dunlop opening the iconic building to retailers, leisure and office tenants as well as creating a new 100 room hotel.
- EEDA’s strategic ‘Regional Cities East’ is a collaboration of major towns and cities to deliver sustainable development and collaboration of projects of obvious benefit to each location.
- emda’s remediation and development of Manton Colliery site in Worksop where more people are now employed on the site than were by the colliery. This and many former colliery sites have attracted big private investors.
- LDA’s Olympic Land management: the completion of one of the largest and most complex land acquisitions in the UK, securing 98% of the land by reaching agreement and relocating businesses, residents and communities by agreement.
- NWDA’s budgets have influenced major private investment which otherwise would not have occurred – for example Peel Holding’s £400m development of MediaCity or the £900m Liverpool Grosvenor Retail Development.
- ONE’s investment in Sunniside, Sunderland: the area is now enjoying a significant renaissance with proposals to create 5,000 sq m of office space, up to 930 new homes, 2,500 sq m of retail and 1,650 sq m of leisure use.
- SEEDA’s Kent Coalfield Regeneration Programme in East Kent has created 90,000 square metres of employment space, 2,500 new jobs and £75m private sector investment in the area.
- SWRDA’s release of high levels of private sector resources, with match funding, for projects such as Harbourside Bristol £54m, Plymouth International Business Park £15m and Gloucester Docks £10m.
- Yorkshire Forward’s Renaissance Towns and Cities has attracted over £1bn of investment from the private sector.