This report provides a timely stocktake of how development corporations have been used across the UK, the emerging pipeline of new proposals, and the conditions likely to determine their future success. It reviews the experience of previous New Town Development Corporations, Urban Development Corporations and Mayoral Development Corporations, and considers recent and future expansion in the number of development corporations. The report anticipates a substantial expansion in the use of development corporations, driven by new centrally led corporations in major growth areas, new town proposals, additional mayoral corporations, and the potential for locally led urban development corporations.
The report concludes that success will depend on development corporations having a clear and durable purpose, an appropriate geography, strong partnerships, substantial and predictable long-term funding, effective land value capture, skilled leadership and delivery teams, high-quality and inclusive placemaking, and legacy arrangements established from the outset. It also calls for a stronger evidence base to identify which models, powers and financing approaches work best in different circumstances.
“It is likely that over the next two years we will see the establishment of more than ten new development corporations. This is on top of the four Mayoral Development Corporations established in the last year. This therefore represents the biggest expansion of new development corporations since the introduction of Urban Development Corporations in the 1980s, though in a much more accelerated timeframe, and with a much greater variety of institutional forms, strategic objectives, and scales of delivery, as well as the biggest UK development corporation area ever created.“
Kevin Fenning
The number of and use of development corporations to tackle major development and regeneration projects is growing across the country. It will be important to ensure that development corporations are established and supported in such a way that they are able to make effective use of their powers, to drive the long-term creation of new and better places.
Meet the author
Kevin Fenning
Kevin Fenning is the Founder of Evidence First, and a Fellow of the Local Policy Innovation Partnership (LPIP) Hub. Kevin leads research and analysis for a wide range of public and private organisations, including: local government, central government, universities and colleges, and business representative organisations. Local and regional economic development is a core focus of his work, which involves analysis and policy work in thematic areas such as: businesses and sectors, labour markets and skills, innovation, housing, infrastructure, net zero, and health.