Development Trust Launched In South Wye
The prospects for prosperity in South Wye are set to get a boost with the launch of a new development trust.
The South Wye Development Trust is being formed to take forward the work of the current regeneration programme, with the baton being handed over in April 2006.
The new Trust is looking at the possibilities for developing locally owned assets. Development Trusts in other areas run enterprises such as car parks, gyms and leisure facilities, community halls, education centres, offices and workshops for start-up businesses, tourist attractions and business centres, providing jobs and services as needed in their area.
Any profits generated by these assets will be ploughed back into existing community development activities such as youth programmes or the provision of small grants.
Development trusts are a well-established and successful approach to improving the economic health of local communities across England.
Their success is based on their ability to adapt to local needs and exploit local opportunities and skills. This includes the creation of new jobs and services that help to keep money circulating in the local area.
The existing South Wye Regeneration Partnership, which endorsed the establishment of the new Trust, will continue to supervise and coordinate the activity of local statutory and voluntary organisations, but will no longer act as a grant-giving body.
A Board is being formed to run the new trust, and the Tara Consultancy has been engaged to look at a number of business options.
The Tara Consultancy (part of All Saints Action Network, a development trust in Wolverhampton), have first hand experience of the benefits a development trust can bring to an area.
Mike Swain, from Tara, said: “South Wye Partnership is assisting local people to establish an exciting new approach to the development of this local area.
“A development trust will enable people in South Wye to create their own community investment strategy.
“Almost any type of business activity could be developed by the Trust provided there was community support for it, and it was economically viable.
“Tara is looking forward to helping South Wye Partnership establish an organisation which will hopefully be successfully trading for years to come.
“If anyone has ideas for what the Trust should do, I would be delighted to hear from them,“ Mike added. (Mike Swain can be contacted on 01902 556680)
The Development Trust is seeking volunteer directors, preferably people who know South Wye well, have business skills and some time to spare.
They would like to have a diverse group of Directors, with experience from all walks of life and the enthusiasm to build a successful business.
Anyone interested in joining the Board can contact Nina Bridges on 01432 383230, or email nbridges@herefordshire.gov.uk
