local gov policies

• sympathetic business environments are environments that are attractive to both people and businesses (UK based or foreign investors)
• local governments try and create sympathetic business environments by offering tax breaks and incentives alongside support for start-up costs e.g. science parks

  • clusters of offices and labs focused on quaternary industry which group together high tech companies, entrepreneurs and start ups who may collaborate and use expertise of local universities
  • regeneration is aimed to raise the value of businesses in an area, quaternary sector provides highest paid employment so regeneration schemes try and attract these type of businesses
  • example is Liverpool Science Park in Knowledge Quarter
• 3 types of local interest groups?

  • chambers of commerce - local organisations that represent the interests of local businesses
  • trade unions - ensure employers consider the rights and needs of workers in decisions, they offer support for workers who have disputes and can call for members to strike if company does not meet their demand
  • local preservation society - groups of people who are concerned with preserving the natural environment e.g. stop HS2
• controversy surrounding London 2012 Olympic Park

  • 2012 Olympic bid claimed it would transform Stratford through regeneration but when plans were released community was not happy
  • Clays Lane home cooperative was affordable homes built in 1977, Olympic plans meant they had to be demolished, evicting 450 residents
  • residents protested but authorities moved them into poorer condition homes with £8500 compensation
  • since the Olympics the area has been transformed via purchasing and renting of former Olympic village apartments
• regeneration strategies can be through:

  • retail-led plans - provide many different jobs, can boost local spending with many shopping centres, cinemas and gyms
  • sport - hosting large sporting events, raises profile and tourism of area e.g. Tour De France in Yorkshire
  • tourism - cultural heritage boost tourism e.g. viking festival Up Helly Aa in Lerwick
  • rural diversification - when businesses start to offer different goods or services alongside their core businesses
• a case study for sport regeneration is London 2012 Olympics

  • the Olympic stadium, aquatic centre and velodrome are now available for local people and national teams, the Olympic village has been converted to 2800 flats, new office buildings and schools

  a case study for rural diversification is Powys regeneration partnership

  • between 2014 and 2020, One Powys Local Action group in Wales used combination of private and public investment, EU adjustment funds were used to invest in fast broadband allowing people to work from home - helping business reach wider market