The new English Riviera

South Devon is renowned for its incomparable natural beauty and work life balance. Now Torbay Development Agency is launching a regeneration project to diversify the economy and build on the regions strengths, explains Steve Parrock

In 2010, as part of exciting new developments in Devon, some 25 prime development sites are being made available for mixed-use development which will transform the region. Together, these three adjacent towns have a combined population equivalent to that of Oxford or South Cambridgeshire. Soon they will develop much further.

In the first quarter of 2010, Torbay’s new economic development company will formally advertise the opportunities to private sector investors and offer participation in the delivery of the ‘Mayor’s Vision’ sites through the creation of a local authority asset backed regeneration vehicle.

The prime development sites are now available for mixed-use development. These developments will completely transform the three towns of Torquay, Paignton and Brixham in Devon. 2010 also provides expanded opportunities for business with Torbay’s new economic development company seeking private sector partners and the establishment of a local authority asset backed vehicle.

Already a great business location, the area has world leaders in electronics, healthcare and research. It is now that Devon seeks both new entrepreneurs and established businesses, able to benefit from extensive business support and existing commerce in the area.

Steve Parrock, CEO of the Torbay Development Agency, has confirmed that the development of the prime sites identified, with an overall development value of £400m, will create many thousands of new jobs and homes but more importantly rejuvenate the local economy through the provision of new highly competitive employment spaces, whether office, leisure, light industrial or retail. Many of the sites are on the waterfront or contain panoramic sea views.

Other measures to improve the regions competitiveness have already been implemented and extensive business support now exists for existing businesses and new start ups. The supply of fully serviced offices with mentoring support (if required) has been very successfully with demand outstripping supply in 2009. Consequently additional accommodation, some with special facilities for the creative industries, has been commissioned and is scheduled for completion later this year.

Also to be launched early in 2010 is a renewed Inward Investment Strategy for the region. South Devon’s geographic setting is highly attractive and offers a quality of life to rival anywhere in the UK. With easy access to mainline rail and London and Exeter International Airport, choosing the coast need not be at the cost of your business.

For businesses seeking relocation or entrepreneurs contemplating a fresh start, the region has an affordable workforce and access to high quality skills with the Universities at Exeter and Plymouth nearby. Combined with the nationally accredited ‘outstanding’ South Devon College, there is support for product development and the development of your workforce on hand. Three local Grammar Schools in Torbay are also rated by The Times as being in best 100 state schools in the country.

Torbay is also already home to world- leading knowledge based companies such as Astra Zeneca, Spirent, and Oclaro and is now offering a strong proposition for the development of healthcare businesses in conjunction with Torbay Hospital.

As well as its long sandy beaches and beautiful scenery, South Devon offers many first class restaurants, an eclectic mix of leisure attractions and a vibrant atmosphere.

2010 will be a greatly important year for regeneration and economic development in South Devon. Now there’s a chance for everyone to be a part of it.

For more information: To learn more about the region please visit: torbaydevelopmentagency.co.uk or tel: 0180 320 8973