RDA adds £14 to the local economy for every £1 spent
Posted by on 15 Sep 2020
Every £1 that is spent on the Rochdale Development Agency by Rochdale Council adds nearly £14 to the local economy. That is the main conclusion of an independent benchmarking exercise that measured the performance of the RDA.
The research, which was carried out by the consulting company Mickledore, found that the work of the RDA in 2018/19 resulted in a boost to the Rochdale economy of £15.7m over one year and £71m over a five-year period.
The analysis concluded: “Across all the measures analysed, the evidence base indicates that the RDA activity has generated local economic benefits which substantially exceeds the cost of the organisation.”
The RDA was founded in 1993 and is the local economic development agency for Rochdale borough. Its wide remit includes delivering physical development and regeneration projects for the council, as well as securing inward investment and supporting business growth.
Recent projects delivered by the RDA include the Rochdale Riverside retail and leisure development in Rochdale town centre. The agency is also leading on the restoration of Rochdale’s historic town hall and on the ongoing development of Kingsway Business Park.
Chairman of the RDA Paul Ormerod said the research underlines the importance of the agency.
He said: “The research endorses the work of the RDA, in conjunction with the Council’s Economy Directorate, to promote the economic well-being of Rochdale.
“It shows we are fulfilling our aspiration to make Rochdale a more prosperous and vibrant place through encouraging investment in the economy and creating new jobs.”
Councillor John Blundell said “This shows the value of having the RDA as a separate body working closely with the Council’s own economic team. They generate a lot of synergy in their close working relationship”.