While there are variations, the economy of the Rural Regeneration Zone is characterised by low wages, low skills, underemployment and a dependency on traditional sectors such as agriculture and manufacturing.
The challenge for the Rural Regeneration Zone is to invest in activity which supports the diversification of the economy towards higher waged, knowledge intensive employment while continuing to develop the higher-value elements of the food and farming, tourism and creative industries.
We are working to enable the private sector to establish better link with the region’s Further and Higher Education Institutions to maximise the opportunities for knowledge and technology transfer.
And we aim to provide choice to those who currently have no option but to leave the area in search of higher wages and further and higher education opportunities.
Specific activity has involved the creation of the Rural Enterprise Centre Network, a private-public sector partnership between the Rural Regeneration Zone and Evans Easyspace which is creating a network of high-quality enterprise centres across the Zone.
The Zone has also supported Enterprise HQ, the UK’s first programme to support home-based entrepreneurs.
Funding to provide enterprise space includes the Redundant Building Grants scheme, which provides up to 25 per cent of costs for converting or refurbishing buildings to bring them back into productive business use or enhance their existing use.
The Zone is also involved in supporting enterprise by creating the conditions for growth through major land and property schemes which has included the £9.5 million project to provide infrastructure improvements at Rotherwas Industrial Estate and the £750,000 redevelopment of Sandy Lane Industrial Estate in Stourport.