Regeneration

Introduction

An Isle of opportunities

The Isle of Wight Council launched its Regeneration Programme: “An Isle of Opportunities” on 20 July 2017.  This included the launch of a new website: www.iwightinvest.com and a ‘conversation’ consultation with Island residents: “The Wight We Want”, select the link to take part in our Island conversation.

2017 is the start of a new era for the Isle of Wight Council following a decision by the Executive Committee in December 2016. To view the decision click here. (PDF, 87.95KB, 8 pages). The Council has established a Regeneration directorate to help regenerate the Island’s economy and transform the financial position of the Council.  Utilising the Council’s assets and working in partnership with the private sector, the initial programme has identified sites which, if delivered to their full potential, could bring in over £15m per annum in increased council tax, business rates and new homes bonus, as well as create 12,000 new jobs over a 10 year period.

The new team will be working to deliver these early projects as well as identifying new projects which will help to achieve the Council’s aims of making the Island the best place to live, work and visit while remaining focused on also generating a revenue stream for the Council to grow our way out of the current and ongoing financial challenges.

The regeneration programme is intended to be delivered in line with the council’s current related strategies and plans - in particular the Island Plan Core Strategy, click here to view the strategy and the Economic Development Action Plan, click here to view the plan (PDF, 119.15KB, 14 pages).  It will also complement the work currently underway on a One Public Estate bid for the Island working with other public sector partners including health police and fire on the development and more efficient use of all public land and buildings.

In addition to establishing the scope and potential outcomes from the regeneration programme, there are a number of key activities the council will need to adopt in order to deliver the programme and its associated benefits:

  • Develop a partnership approach to programme delivery and stakeholder management.
  • Continue to develop a vision and 20 year growth plan for the Isle of Wight in partnership with all stakeholders.

  • Develop a set of principles that govern the behaviour of all those involved.

  • Adopt a strategy of retaining assets and investing to create the most value and maximise long term returns on investment.

  • Ensure each priority project has a clear value and that it is making a measurable contribution to vision.

  • Commit to an evidenced based approach to decision making. 

If you are interested in any of the projects currently underway, please get in touch with the Regeneration team by clicking here to 'Send a message to this service' .