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EEDA’s contribution to the strategic development of the East of England
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EEDA’s contribution to the strategic development of the East of England
An independent regional report by PA Consulting/SQW that provides evidence that EEDA is having a significant and positive impact on the East of England economy.
Based on an evaluation of £142 million of EEDA investment between 2002-07, the report finds that between £525 million and £820 million of wealth has already been created for the region (measured in terms of gross value added). This represents a return on investment of £3.70 to £5.80 for every £1 invested – with a mid point of £4.75.
Many of projects evaluated are likely to see further benefits realised over time. If these are taken into account, the wealth created for the region increases to between £874 million and £1.3 billion. This would represent a return on investment of between £6.10 and £9.10 for every £1 invested – with a mid point of £7.60.
These results are a clear testament to the commitment and hard work of all partners working together to address the challenges the region’s economy faced over this period. The evidence from this evaluation will directly help to improve future investment decisions so that funding can be channeled where it can have most benefit for the region’s businesses and communities.
The evidence presented in the PA Consulting/SQW report also supports the findings of a national report published by the Department for Business, Enterprise and Regulatory Reform. This demonstrates that the RDA network as a whole is delivering a positive return on investment.
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