Investment in sites and premises for business involves improving the physical environment for businesses thereby making it more attractive for business retention, expansion and recruitment. Possible projects include:
Derelict site reclamation programs:
Many traditional industries were housed on large sites. They occupied large buildings and frequently considerable contamination of the sites resulted. As a first step in most regeneration programs these major issues need to be tackled. Decisions need to be made on whether buildings can be effectively reused, how much contamination needs to be cleared and what after-use programs need to be established. None of this is easy or cheap. But contaminated sites, besides being a danger to local communities, are never likely to be bought by reputable employers. A comprehensive Brownfield reclamation program needs to be established within the LED strategy when this is an issue. This could include an initial survey of sites, identification of severity of pollution, identification of ownership, prioritizing reclamation, finding funds for it, developing after-use programs and ensuring regulatory systems encourage reclamation.
Adaptation of disused buildings:
In some instances redundant buildings will be able to be adapted for further use such as for a managed workspace, which can be owned by the public or private sector. Some buildings may benefit from splitting into smaller workspaces. Some of the most historic buildings are often the hardest to reclaim, but this should not stop efforts to save all buildings of historic or architectural importance.
Industrial and commercial site preparation:
In most regeneration programs there will be a need to develop some land for incoming and expanding businesses. To accommodate these most effectively, it is better to have some sites serviced with basic infrastructure at the outset, if this is possible. There should at least be some assessment of the likely costs and timescales involved in installing basic infrastructure. There is significant expenditure involved with this, so partnerships with the private sector are ideal.
Upgrading out-of-date or abandoned industrial premises:
Regeneration strategies are targeted at communities that have normally suffered from structural change, such as a major industry closing or a rural area in decline or a town center suffering from neglect and crime.
Developing industrial estates, business parks or science parks:
This type of activity is normally undertaken by the private sector, however, local authorities can pave the way by establishing a demand for such a facility and encouraging an enabling environment within the local authority. Investing in servicing sites with water, electricity and sewerage is expensive, so is building speculative advance factory units (where no tenant has been identified). Because of these reasons local authorities are encouraged to seek private sector investment in this area.
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