Regenerate Pennine Lancashire Annual Report

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1 Regenerate Pennine Lancashire Annual Report

2 Introduction has been a formative year in Regenerate Pennine Lancashire s business activity. Twelve months ago we had emerged from a significant re-structure which saw the company transformed into a leaner, more agile, business-facing company. We focused on a core mission to promote enterprise, foster business growth and encourage private sector investment, with the aim of moving the economy of Pennine Lancashire up the value chain. We set about doing this through a variety of programmes and services that have delivered tangible benefits to the local economy over the last 12 months in terms of jobs, new businesses and private sector investment. This year has also seen us begin to move into new areas of work that will generate income, and move the company away from being solely financed by the public sector. This will become more prevalent in the next twelve months as we continue down this sometimes difficult path, whilst continuing to deliver to the expectations of our stakeholders was a transition year in which Regenerate has positioned itself strongly in the local business support context as a delivery partner of the Lancashire Enterprise Partnership as well as the wider business support context of the North West. The company has worked hard to bridge the gaps in business support provision and developed strong working relationships with both national and local schemes; helping businesses to access the support they need to thrive and prosper. The company has managed to deliver significant benefits and achieve notable successes in a depressed economic market, which looks set to continue. However, this next year is one of opportunity, as we move forward into a period of growth; one which will see new programmes and services come on-line to support our businesses through the economic downturn and help them to push the local economy back into growth. Steve Hoyle Managing Director, Regenerate Pennine Lancashire 2

3 Highlights Regenerate has achieved some notable successes over the last 12 months including: Attracting 7.5m of the RGF for the Accelerating Business Growth programme - a capital investment scheme for SMEs for expansion projects to create sustainable jobs. Attracting 900,000 European Regional Development Funding (ERDF) for Pennine LEAP - a new programme that will help to foster high growth business starts in Pennine Lancashire. Successfully delivered the first year of the Lancashire Innovation Network working across the whole county. Launching the new company website ( making it more business focused and easier to use. The website now includes a calendar of events and a directory of business support services available in the area. These new pages along with our use of social media have significantly increased our web presence which has resulted in a significant increase in enquiries. Successfully concluded the ISUS programme over achieving on targets for new business starts. Securing a key delivery role for Pennine Lancashire on the North West Target Sector Inward Investment Programme, helping to assist businesses move into the area, driving up employment and wealth. Developing a range of consultancy services in planning, sustainability and property development. Leading on a number of development proposals for partners and companies including a visioning exercise for Brierfield Mill, on behalf of Pendle BC and PEARL2. As a result Pendle BC and PEARL2 were able to secure HCA funding to purchase the site. Assisting in the launch the of Bradley Regeneration Hub in which Regenerate played a coordinating role in the production of the vision document and encouraged investment in the surrounding houses and small business premises. Launching the Pennine Lancashire Youth Enterprise Fund offering bursaries to young people (aged 14-25) for demonstrating outstanding enterprising behavior. The 50,000 fund has been generated by the prize money 3

4 Regenerate secured after winning North West Capital of Enterprise Hosting a series of events, with a range of private sector companies, targeted at specific sectors and industries ranging from technology and innovation topics, to changes to the planning system. Establishing ourselves as one of three delivery partners across Lancashire in responding to inward investment enquiries, through UK Trade and Investment. Helping to attract businesses to the area leading to significant investment and jobs. Achieving recognition as a key delivery organisation of the LEP, and playing a greater role in the regional business support arena. Co-ordinating the development of 2 ERDF programmes: Start Up Lancashiretargeted at supporting under-represented and disadvantaged groups to move into self-employment, and a joint proposal for Technical Assistance to the ERDF programme with Lancashire County Council, to improve the impact of ERDF in Lancashire. Created and safeguarded over 990 Jobs. Helped to create over 250 business Attracted over 31m of investment into the Lancashire economy. A: The Globe Centre, St James Sq, Suite 22, Accrington, BB5 0RE. T: E: W: 4

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