Rochdale Economy set for £300M boost

Posted by on 8 Dec 2020

The Rochdale economy is set for a £300m investment boost thanks to the work of the Rochdale Development Agency.

The £300m has been triggered by the RDA and the council securing over £40m of public funding for a series of regeneration projects through successful bids made in 2020/21.

Cllr John Blundell, cabinet member for regeneration, business, skills and employment at Rochdale Borough Council, said the local economy is now in the ‘box seat’ to bounce back from Covid-19.

Cllr Blundell said the £40m figure is significant in its own right but it is the scale of the additional investment that this funding will leverage which will ensure Rochdale thrives in the future.

He said: “We have secured funding which unlocks key projects across the borough with a total investment value of £300m.

“This will deliver 1,000 new homes, 1.0 million sq ft of commercial floor space and 2,500 new jobs for Rochdale residents in the next three years.”

He said: “The impact of Covid-19 raises a number of economic challenges, but the borough is in the box seat to bounce back with the investment projects the RDA is developing with Rochdale Borough Council and our public and private sector partners.”

One of the largest projects is at South Heywood where funding secured for a new link road to the M62 motorway means substantial industrial and residential development can now go ahead. The RDA and the council have worked with the developer Russell WBHO to bring forward this scheme.

Other RDA-led projects at Kingsway Business Park, Rochdale Town Hall, Rochdale Fire Station, Rochdale Riverside, and Chamber House Farm will also make a significant contribution to the economic success of the borough. 

The chairman of the RDA, economist Paul Ormerod, said Rochdale had forged a reputation as a place where the public and private sector work well together.
He said: “The RDA is the economic development arm of the council and the extra investment it has secured and the projects it will be delivering in the next few years means our best days are ahead of us.”