Jobs pledge as regeneration firm is wound up

TDA work will be brought back in house

No jobs will be lost when a company set up to drive Torbay’s economic regeneration is wound up, it’s been pledged.

The Torbay Development Agency’s work is to be brought back ‘in house’ to Torbay Council after members were told that it had had its day.

“Something has gone fundamentally wrong,” said Cllr Nick Bye (Con, Wellswood).

The TDA was set up a decacde ago, and its closure coincides with the bay sinking to the bottom of a national economic performance table.

“There are no redundancies in play here,” said council leader David Thomas (Con, Preston). “The name may change, but the work the council needs to do remains the same.”

The move to dissolve the TDA was discussed by the bay’s cabinet and the full council, who heard that the company, also known as the Torbay Economic Development Company, was no longer the most effective way to lobby for investment.

Torbay’s overall economic performance has continued to decline, and it is the lowest performing local authority area in England when judged by Gross Value Added per head of population.

Councillors heard that the TDA had been successful on many levels, securing tens of millions of pounds in government investment and developing vital school projects, but the government is now more likely to bypass it and deal directly with the council.

Deputy leader Chris Lewis (Con, Preston) added: “This is a difficult decision which has not been taken lightly, but we believe the best way forward is to bring the TDA back in-house.

“Times have changed, and hardly any local authorities have a company like the TDA. This will make decisions quicker, be more transparent, and above all improve the economy of the bay.”

Cllr Bye said: “I saw it as a crusade for the regeneration of Torbay and I’m afraid that has not worked out.

“Bringing it back in house – that’s the way to turn around the decline of Torbay and ensure a prosperous future.”

But opposition councillors called for more financial details on how bringing the operation under direct control would affect the council, and questioned whether TDA staff would want to transfer to work for the local authority.

Liberal Democrat leader Steve Darling (Barton with Watcombe) asked: “Why have we not heard the voice of the TDA? Why is the Conservative administration putting a pillow over their face and gagging them? What are you hiding from us?”