The Government
today published annual performance reports for each of England’s
Regional Development Agencies (RDAs). They showed that all of the
RDAs are meeting the objectives, milestones and targets set out in
their corporate plans.
This underlines the value of the RDAs following an independent
study earlier in the year that showed overall, every pound
invested by RDAs will generate at least £4.50 for their regional
economies.
Rosie Winterton, Minister for Regional Economic Development said:
“These reports show that the Regional Development Agencies are
playing a key role at the frontline of our response to the global
economic downturn. They have risen to the immediate challenge of
the recession with one eye firmly fixed on the future and the
upturn.
“They have done this whilst achieving their corporate objectives
for 2008/09 and improving the overall economic outlook for their
regions. By working with their local and national partners, RDAs
are making a real difference."
Speaking on behalf of England’s RDA’s, Richard Ellis, chair of
the East of England Development Agency (EEDA), said:
“We’re pleased at the recognition given today to the important
work done by regional development agencies. RDAs are delivering
vital help and support to businesses during the recession. We have
provided £110 million to fund national schemes to support business
and we committed quickly to a range of practical measures designed
to help SMEs, such as paying suppliers within 10 working days.
“RDAs have continued to invest to create the right environment
for the growth of future and emerging economic sectors, such as
low-carbon technologies, high-tech manufacturing and digital
communications. To support tomorrow’s innovative businesses we are
investing £1 billion between now and 2011.”
RDAs Key Achievements
BusinessLink
The RDA funded BusinessLink service has refocused its service to
meet the immediate needs of businesses to survive and prepare for
the upturn. Over the last year the service has nationally
supported 942,166 businesses, the majority of which are Small and
Medium Enterprises (SMEs) which are the backbone of the country’s
business community. Businesses can now access a vast range of
advice and support through the single BusinessLink portal.
Fiscal Stimulus projects
RDAs have voluntarily and collectively brought forward up to £100
million as part of the Government’s Fiscal Stimulus package. This
is targeted at projects which will create a short term boost to
the economy by ensuring that critical projects that would
otherwise have slowed down or stopped continue as normal.
Area Action Teams
RDAs have been working jointly with a range of partners including
Local Authorities, Job Centre Plus, the Learning and Skills
Council and Citizens Advice Bureau to respond to companies in
difficulty through the Area Action Teams. The primary focus is on
redundancies and company closures, and they aim to minimise the
impact of these and identify opportunities and sources of support
to provide a co-ordinated response to the company and the
individuals affected.
Transitional Loan funds
In November Lord Mandelson announced that English regions would
introduce Transition Loan Funds (TLF) totalling £25 million. RDAs
subsequently increased the funding available to just under £57
million. The TLF were introduced to address the particular
circumstances of the current credit market.These have proved
very successful since their launch, with over 280 loans, totalling
more than £28 million, approved to date, safeguarding over 9,000 jobs.
Notes to Editors
Performance reports for each of the Regional Development
Agencies are available here –
http://www.berr.gov.uk/whatwedo/regional/regional-dev-agencies/rda-performance/page52452.htmlThe
independent evaluation of RDAs undertaken by
PricewaterhouseCoopers is available via -
http://www.berr.gov.uk/rdaevaluationFor more information about
England’s RDAs see http://www.englandsrdas.co
Department for Business, Innovation & Skills
The Department for Business, Innovation and Skills (BIS) is
building a dynamic and competitive UK economy by: creating the
conditions for business success; promoting innovation, enterprise
and science; and giving everyone the skills and opportunities to
succeed. To achieve this it will foster world-class universities
and promote an open global economy. BIS - Investing in our future.
Contacts:
BIS Press Office
NDS.BIS@coi.gsi.gov.uk
Mark Malbas
Phone: 020 7215 5303
Mark.Malbas@berr.gsi.gov.uk