Urban Regeneration Companies (URCs) unite public and private sector partners to deliver sustainable regeneration and stimulate investment in towns and cities. They are independent companies established by the relevant local authority and Regional Development Agency (RDA). The principal aim is to engage the private sector in a sustainable regeneration strategy, working within the context of a wider masterplan which takes full account of the problems and opportunities for the whole area.
There are currently four operating URCs in England:
In recent years the concept of City Development Companies (CDCs) were promoted, which were subsequently rebranded Economic Development Companies (EDCs) to reflect the greater emphasis on driving economic growth and regeneration beyond urban centres, based around rural, coastal or sub-region settings, focusing on areas of deprivation.
A number of URCs changed their status to EDC or CDC following the review of sub-national economic development and regeneration in 2008, Sheffield was the first of its kind in the UK to change to CDC status.
There are 10 CDC/EDCs:
We have had a role in providing practical support and assistance for all URCs, EDCs and CDCs.
Our support and assistance has been provided in a number of ways, including:
The future role played by the HCA will be determined by the government's evolving economic and regeneration agenda.