Brighton & Hove Business Forum: City Development Companies - the future? Brigh... - The Diigo Meta page

• 13 Feb 07
  

  Will Thomas

  cdc

  • However, CDCs will not have any planning powers and, perhaps more significantly, they will not have any additional funding from central government, which expects them to be funded by local authorities and regional development agencies.

    A basic model for CDCs already exists with Creative Sheffield which was established in 2005 (with a time limited lifespan of 15 years) and draws together destination marketing, inward investment, city centre management and economic regeneration functions into a single body.

  • City Development Companies would bring together expertise from the private and public sectors to improve economic development delivery across cities and wider “city regions”. The Government has launched a consultation on the role of CDCs.

    CDCs would be established on a voluntary basis to oversee a city-wide strategy coordinating economic development priorities and could even include those of neighbouring local authorities. They could also pool existing functions, simplify delivery and reduce bureaucracy.

    However, Government would also expect them to have clear lines of accountability to local government and to operate in line with the local community strategy

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