You are here: Home > Newsroom > "Regeneration Momentum" research sets out new dire
"Regeneration Momentum" research sets out new direction for economic development 15th January 2010
Today the research findings from the Regeneration Momentum
research programme, supported by the Northern Way, were
launched at a major conference in Bradford. The programme
makes a compelling case for change in the way regeneration is
delivered in the future.
The portfolio of research, undertaken by a wide range of
organisations from the private, public, voluntary and
university sectors, calls for action and new policy measures in
a number of important regeneration areas to ensure future
economic regeneration and growth. The eight research
reports represent the independent views of the researchers,
rather than of the Northern Way itself or its
partners.
The research highlights some key messages for government,
regional development agencies, local authorities and the
private sector. Examples from amongst the many practical
recommendations include:
- From the Work Foundation: with more limited public
resources in this recession, we need to learn lessons
from past recessions, and keep a strong focus on
local delivery within a strategic regional and city-regional
framework, focused on broad-based economic outcomes.
- From De Montford University, in partnership with Hull
City Council: local authorities should simplify the
complex maze of partnerships and local delivery
vehicles in their area. Whilst there are good
reasons why such models have been created, the cumulative
impact is a plethora of initiatives, creating high
transaction costs in delivery, confusing the private sector,
and failing to exploit opportunities for synergies in policy
and delivery.
- From ARUP: with increasing support for new uncomplicated
regeneration finance models, research shows most
professionals have greatest hope in
Local Asset Backed Vehicles. Greater
coordination and concentration of public sector assets and
investment is needed alongside private resources to maximise
regeneration benefits.
- From Heritage Works and the North of England Heritage
Trust, demonstrating the value of heritage-led regeneration;
the third sector is well placed to step in when the
public sector cannot justify the risk, and the private sector
sees no return for the risk. Involvement of the
third sector can add value to regeneration schemes from
gaining community buy-in, to acting as the developer for a
difficult site, through to safeguarding the investment by
retaining the site for the benefit of the public into the
future.
- From RICS and ARUP: the current cost of providing
utilities infrastructure can be prohibitive and deter many
regeneration schemes. Utility companies often
require upfront investment by developers in the early stages
of a regeneration project. These costs alongside problems
caused by long time-scales, poor communication, lack of
understanding, disconnected visions, a culture of 'first
developer pays', and regulations that stifle rather than
encourage need to be addressed.
- From Aspinall-Verdi consulting: Affordable
housing policy is now an impediment to a recovery in the
market in the North. There needs to be a freeing up
of housing supply, greater emphasis on the growing role of
the rental sector and institutional investment in housing,
and a much greater role for both co-operative and mutual
housing options.
- From the Work Foundation: amidst public sector cutbacks
and low levels of private sector confidence, making
the most of 'anchor institutions' (including
universities, museums, sports teams, hospitals and
'embedded' private sector employers) will be vital
for towns and cities across the country. Local authorities
and regional development agencies can play a vital role in
bringing together anchor institutions to ensure that
activities are adding value and making the most of limited
funds.
- From Dickinson Dees LLP: although
Compulsory Purchase Orders (CPOs)
are broadly considered to be an effective regeneration tool,
they are not always timely in the context of public
sector funding and private sector expectations of scheme
delivery. With numbers of CPOs their lowest for several
years, there is a risk that they may drop off the agenda as a
tool for delivering regeneration in the future.
Andrew Lewis, Director of the Northern Way responded to the
research findings:
"Economic regeneration is facing a tough time, and now
more than ever we need to address barriers to effective
partnerships between the public sector, investors and
developers. These reports provide a timely review of the
barriers and opportunities facing economic regeneration as we
enter the recovery phase. They demonstrate the need to
build on good practice, de-risk projects, focus on investment
and jobs, and get more for less."
Welcoming the reports on behalf of the northern RDAs, Alan
Clarke from One North East said, "Economic regeneration
can have a strong future, if we're prepared to take the
tough choices necessary and focus more limited resources where
we can generate the best impact on the economic recovery.
Our efforts will focus on joining up delivery, supporting new
economic opportunities and jobs across the North."
ENDS
Media Contacts:
Nicola Hughes
The Northern Way
T: 0191 229 7652
nicola.hughes@thenorthernway.co.uk
Notes for editors:
The Northern Way is a unique initiative,
bringing together the cities and regions of the North of
England to work together to improve the sustainable economic
development of the North towards the level of more prosperous
regions.
The portfolio of research reports commissioned by the
Northern Way include:
The research reports will be launched at The Regeneration
Momentum conference, taking place today (15 January) at the
Bradford Media Centre.
• Click here to go back to main menu
|
