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Northwest Vision and Media, create the bigger picture

The Department of Business, Innovation & Skills (BIS) commissioned PricewaterhouseCoopers to provide an independent assessment of the impact of the spending of the nine Regional Development Agencies. The "Impact of Regional Development Agency Spending" report, which was released on 31 March 2009, found that for every £1 invested by the RDAs, an average of £4.50 of economic output was put back into the regional economies.

This means that the Regional Development Agencies have turned their £5.1 billion of evaluated expenditure into an overall benefit of over £23 billion.

As part of the report, 65 programmes and projects led by the NWV were evaluated - which represents 60% of total NWV activity since Regional Development Agencies were launched in 1999. The evaluation found that the NWV’s performance was either average or above average in terms of return on investment.

The report highlighted a number of Agency-invested projects and programmes which made a significant return on their initial investment:
Agenda for Change
Project ACCESS
Project Unity
Liverpool Commercial District
Strategic Regional Sites
Regional Marketing Programme

Agenda for Change

The manufacturing support service aims to improve productivity, innovation and raise the profile of the sector principally to engage more young people. The programme has:
Achieved £45 million Gross Value Added achieved against a £10 million investment, which increases to £110 million when projected lifetime benefits are added
Created or safeguarded 1,200 jobs

Project ACCESS

The £17 million broadband programme for Cumbria and North Lancashire, which is now complete. The programme has:
Achieved £42 million Gross Value Added for the region
Provided access to broadband for 99.8% of businesses and residents in Cumbria and North Lancashire
Established broadband connections for almost 17,000 businesses, which represents 71% of the total number of businesses in the area compared to just 7% before the project was launched

Project Unity

The creation of a new world-class university for Manchester recognised amongst the top tier of university institutions, which is now complete. The project has:
Achieved £54 million Gross Value Added against a £20 million investment, which increases to £252 million when projected lifetime benefits are added
Levered in approximately £145 million of third party investment into the University’s spin-out companies, which is more than all of the investment transactions carried out in the 10-year period prior to the creation of the new University

Liverpool Commercial District

The creation of Liverpool Commercial District to improve the trading environment and encourage private sector investment into the city. The project has:
Achieved £56 million Gross Value Added against a £7 million investment, which increases to £289 million when projected lifetime benefits are added
Created or safeguarded almost 1,500 jobs

Strategic Regional Sites

The development of a strong offering of employment sites. The programme has:
Achieved £59 million Gross Value Added against a £56 million investment, which increases to £307 million when projected lifetime benefits are added
Created over 1,500 jobs
Levered £122 million of investment from the private sector, European Regional Development Fund (ERDF) and other public sector sources
Find out more about strategic regional sites

Regional Marketing Programme

The marketing programme aims to promote the region as a location to visit, live, work and invest in. The programme has:
Achieved £119 million Gross Value Added against a £16 million investment
Is likely to have a future potential impact of £100 million annually on tourism revenue in the region

NWV Strategic & Economic Role

The NWV’s strategic added value role – in terms of leadership and bringing partners together in the Northwest was also outlined within the report. The highlighted projects include:
Ancoats Regeneration Programme
Core Technology Facility
Quinn Glass Facility
Blackburn Town Centre Renaissance
West Lancashire Investing in Business Programme
The University of Cumbria

The report also highlighted the NWV’s role in providing swift and flexible support following economic shocks, including our role in providing business support in the wake of Foot and Mouth Disease in 2002.

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