The Agency, along with all other Regional Development Agencies, will close on 31st March 2012.

The Agency is a large and complex organisation with almost 300 live projects and a large number of assets and ongoing liabilities, including the direct ownership of 48 different land and property sites across the region. The closure requires careful planning and cooperation with a number of partners (including local authorities through the Regional Leaders Board) and different government departments.

Whilst the future landscape to support the local and regional economy is still emerging, there is significant work and progress in the following areas:

Transfer of Functions
Several NWDA functions will be transferred to Government departments specifically:

• Inward Investment support will transfer to UKTI by June 30th (to be delivered via a nationally procured contract);
• Management of the ERDF Programme will transfer to CLG by July 1st;
• The Rural Development Programme will transfer to Defra by July 1st;
• The Technology Strategy Board will continue a Grant for R&D programme at the national level. The transfer of projects from RDAs to the TSB is yet to be fully determined;
• The Manufacturing Advisory Service will continue. RDAs are looking to exit their current provision by the end of 2011, working with BIS so that the future delivery mechanism is in place and there is no impact in delivery to businesses;
• Venture Capital Schemes, including those run by NWDA, will be managed in the future by Capital for Enterprise nationally. The date of transfer is not determined;
• Grants for Business Investment – this scheme has ceased to operate and grants will only be considered in exceptional circumstances nationally.

The Government has yet to indicate if any of the Agency’s other activities or responsibilities will transfer to other organisations. Through the Regional Transition Group the Agency is working with local partners to identify any other activities or knowledge that could be passed to local organisations. The Agency is also compiling a legacy report to document the lessons learnt over a decade of delivering economic development projects.

NWDA Assets and Liabilities

The Minister for Business and Enterprise issued a statement in the House of Commons on 10th February setting out the position for the disposal or transfer of assets and liabilities. The Agency believes any disposals should support future economic growth in the Northwest by ensuring that assets are transferred to an appropriate new host where their full benefits could be best realised, as well as recognising the wider need to deliver maximum value on public sector investments for Government. NWDA have consulted with key partners, initially through the Regional Transition Team), and expect further guidance from the National Transition Board on key principles and policy direction that will underpin future decisions regarding the disposal of NWDA Assets and Liabilities in the near future.

Contractual Commitments beyond March 2012
Any ongoing contractual commitments beyond March 2012 are likely to be transferred to BIS, other Government Departments or possibly a national residual body.

More information on the NWDA website.