Shake up for regeneration company as Peterborough City Council looks to focus on residents who feel 'left behind'

Regeneration company Opportunity Peterborough is to undergo a shake up as council bosses seek to step up the economic growth of the city and ensure fewer people are left out.

Opportunity Peterborough, which was made a private, not-for-profit company in 2010, is to be taken back in house by Peterborough City Council.

Its work, which evolved from a focus on urban regeneration to leading the city’s economic development and inward investment activity, has been overseen by an independent board of directors.

Now the council plans to set up a new growth and regeneration board that will include existing directors but also representatives from other sectors, such as housing, to oversee its work.

The move comes as the council reviews the way in which the city is growing and how that prosperity is shared while also recognising that it is entering an area of what it calls ‘permanent austerity’ and needs to increase the pace of economic growth to raise more finance.

Council leader Councillor Wayne Fitzgerald said: “We want the focus to be on the council’s priorities.

"We will bring OP’s services and team back in house. If we are serious about regeneration and growth we have to put money into it.”

In a report to a recent meeting of the council’s Growth, Resources and Scrutiny committee, councillors were told: “While Opportunity Peterborough has functioned well independently the move will ensure that the work is more strategically aligned with the council’s priorities for the development of the local economy.

“Work is underway to consult with affected staff, and a desktop audit of commercial agreements, staff contracts and finances has started.

It adds: “The service will keep the brand Opportunity Peterborough as this is well established and recognised by local business leaders."

The report also examines the nature of work to attract investment into the city.

It states: "The quantity of enquiries received so far has been lower than in previous years.

"This may be down to a combination of the current economic climate as well as reduced availability of development land and vacant properties in the city.”

But in a separate report, called Sustainable Future, the council states: “While our City continues to grow and prosper, there are still too many people who feel left behind and who do not directly benefit from the opportunities our City presents to us.

It warns: “We also need to change because what the Council has done in the past is no longer good enough in meeting what our residents need and expect today.

"Our City residents are at the bottom of too many league tables - people in the City die earlier, have poorer health and lower levels of education and skills than in most other cities.

"Too many are insufficiently skilled, too many are in low paid work, too many struggle to find suitable accommodation to live in.”