Shaping a Better Reading - the REDA Story 2024

Shaping a better Reading The REDA story

Introduction

Every successful city needs to defend its position, support its local businesses and workforce, develop its sectoral strengths and welcome new businesses and people. This can only be successfully achieved through strong partnership between the business, public and education sectors. The future of this relationship and continued success of the Reading economy is driven and championed by Reading’s Economy and Destination Agency: REDA. With a successful 18+ year history of supporting the local economy and promoting Reading, REDA provides a fully integrated place function for both central Reading and the Greater Reading area.

Supporting businesses through economic development, visitor tourism and town centre BID services, REDA works closely with key partners including Reading Borough Council, the University of Reading, Activate Learning, and local schools, to create a more inclusive and sustainable economy and generate new investment.

Together, we shape a better Reading.

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Who we are Reading’s Economy and Destination Agency (REDA) exists to serve Reading businesses and the wider economy of the Greater Reading area, arguably one of the most attractive and successful locations for inward investment, doing business and living in the UK. REDA promotes Reading’s thriving technology and service industry, prime location, world-class university and successful economy, helping to maintain Reading’s position as the Capital of the Thames Valley.

Our values As a growing, not-for-profit business, with a direct customer base of over 750 companies and a network of over 2000 businesses across Reading, we actively respond to current economic challenges, providing a comprehensive and integrated service to Reading’s business community.

Led by business, we work in partnership with the private, public and education sectors to address the barriers to sustainable and inclusive growth and showcase opportunities through economic development and destination marketing activity.

Our values are at the heart of what we stand for and what we care about as an organisation:

Collaborative A partnership organisation, we use our collaborative approach to power positive change.

Inclusive We act and work inclusively, celebrating diversity and engaging with the wider Reading community.

Authentically ‘Reading’ Guardians of the place brand, everything we do remains true to Reading’s unique story – its heritage, culture and history.

Progressive We set our sights high, ambitious and future focussed, we use innovation to build a better future, together.

Purposeful We are a small but resourceful team, dedicated to our role of supporting Reading’s people and businesses, for wider benefit.

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Our purpose To shape a better Reading.

Our mission To boost business and enhance the visitor experience in a way that improves the quality of life for all those in the Reading region.

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What we do

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Marketing the place of Reading

Attracting investment to Reading

Supporting local businesses in Reading

We are the ‘guardians’ of Reading’s place brand and its 2050 Vision, responsible for showing people all Reading has to offer now and in the future. We lead and champion Reading’s offering to both leisure and business visitors, as well as helping to shape a better Reading for those who choose to live, work and study here.

We encourage inward investment by promoting Reading as a great place to do business and attracting both companies and developments to invest in the city. We help establish a thriving business environment for our local networks to create profit and grow the economy for mutual benefit. We actively encourage other national and overseas organisations to be a part of what we are building.

From start-ups to major corporates, we work with organisations large and small to help drive local business, increase employment skills and build networking opportunities. We also run Reading’s two BIDs (Business Improvement District), a business membership service to over 750 local businesses. The BID delivers year-round added value projects and services which help keep Reading centre safe, relevant and attractive for its residents, visitors and workers.

Reading BID A Business Improvement District (BID) is a defined area where businesses have voted to invest collectively in local improvements to enhance their trading environment. Constituted in UK law in 2004, BIDs provide extra services within their areas, funded via a BID levy charge, which is payable by non-domestic ratepayers. BID services are additional to the services provided by the local authority.

REDA is the management company of Reading Business Improvement District.

Reading BID has been in operation since

2007 and commits to maintaining the added value services which shoppers, visitors and our own business community have come to expect. Reading BID provides approximately £1.5 million extra private investment in the central district, funded by a nominal levy, equivalent to 1.4% of rateable value.

Reading Central and Abbey Quarter District BIDs were both successfully renewed by vote in February 2024 and, over the next five-year term, will deliver the business plans as set out in the ballot campaign.

“Reading BID is an integral part of the Reading economy, supporting collaboration between local businesses and running essential services which help make Reading a top regional centre for retail and business.”

Andy Briggs, The Oracle

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Our future priorities As we look to the future, we remain committed to our great ‘city’, injecting pace and energy into the work we do for Reading and its economy through the refreshing of our economic development strategy, ‘Powered by People’.

REDA’s priorities focus on addressing the critical issues facing businesses in Reading, and our work for the coming five years will concentrate on providing leadership around business support and place marketing, addressing skills and recruitment, the green agenda, attracting inward investment and marketing Reading regionally and nationally, to ensure we have a vibrant city centre, fit for the future.

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We’ll remain committed to supporting our city centre economy as Reading BID delivers its new Business Plan for 2024-29 across two business districts, investing £1.5m in added value services and marketing to support our 750+ town centre businesses.

We’ll work to engage new businesses in Reading through networking opportunities, developing our supply chain networks and maximising opportunities provided by the new Shinfield Studios to influence business support and skills training of the sector across Berkshire.

We’ll drive our green agenda programme, reigniting the Reading 2050 Vision with a forward plan to 2030, securing our CSR accreditation and investing in green skills training and jobs for local people and businesses.

We’ll drive our skills for work and recruitment programme, supporting young people to develop career choices, new sector skills, core and work skills, and matching unemployed people with job opportunities.

We’ll continue to deliver the programme for the creative film sector, supporting Shinfield Studios through developing supply chain skills and new business start ups.

We’ll drive Reading’s inward investment activities, locating new business, attracting more visitors and enhancing the perception of the city.

We’ll provide a bridge to the business economy, continuing our joint working with Reading Council and our local MPs to make the best use of resources, lobbying on behalf of Reading and identifying new funding streams.

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Our approach We pride ourselves on undertaking thorough research and gaining regular feedback from Reading’s business community to inform decisions and services, support our people and businesses, as well as lobbying those who can help shape a better Reading for the future.

Our service to business going forward will be built across four main strategic leadership policy platforms:

l O ur Reading 2050 Vision to be a smart and sustainable city: a city of green technology, a city of culture and diversity, and a city of rivers and parks l Our continually evolving ‘Powered by People’ Economic Strategy for our city partners to deliver l Our 5-year, £7.6m Business Improvement District (BID) plans l Our Reading place brand, driving visitor and business tourism and inward investment campaigns

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The REDA team We are proud of what Reading has to offer and want to galvanise a progressive community of locals and businesses who feel the same to reach our collective goals.

As a small team, we use our collaborative approach to be a catalyst for positive change in Reading, and our established partnerships with the local authority and like-minded, proactive organisations help us to get there quicker. Our dedication, resourcefulness and passion drive us to build a better, more inclusive and sustainable place for those who choose to live, work, visit and do business in Reading.

Scott Witchalls, Chair of REDA: “For over 18 years, REDA has contributed to the success of the local economy, helping Reading maintain its position as one of the best performing cities in the UK. As we look to the future, we now need to look at ways we can improve the public realm and visitor experience in Reading, drive forward the green skills and sustainable futures agenda, and explore avenues for partnering with other organisations and bodies to give us the best chance of delivering success in the areas we can influence.”

Nigel Horton-Baker, REDA Chief Executive: “With a successful BID re-ballot under our belt, REDA is well-placed to continue its mission to boost business and enhance the visitor experience in a way that benefits all in Reading. As we look to the next five years, we remain committed, as ever, to our long-standing goal of raising Reading’s profile as a world-class destination and the Reading 2050 Vision, supporting local people and students into good quality careers, providing training and job opportunities, and to be a smart and sustainable city. I look forward to delivering our priorities alongside the team, with the aim of shaping a better Reading for all.”

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The REDA Board The REDA Board represents the voice of business, alongside the public and voluntary sectors, helping to shape the future of Reading.

REDA’s Board of Directors is a team of Reading experts, made up of leading figures, including those from property, retail, education, transport, planning and infrastructure, hospitality and media organisations, as well as the local authority. Our board members have a stake in Reading’s real estate, town centre, labour force and services to residents, businesses and visitors, bringing a vision for Reading’s future growth and a desire to champion its ongoing success.

To find out more about REDA board membership and what it involves, please contact Nigel at Nigel.Horton-Baker@reading.gov.uk

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“My role on the REDA board has been hugely beneficial in gaining exposure to influencing projects that impact Reading and the greater area, with a genuine involvement in driving the city’s success.”

Kim Cohen, Stantec

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18 years shaping a better Reading Founded in 2007 as the Council’s economic development partner, the Reading UK brand was launched, setting up the first BID outside London and bringing together economic development with town centre events and services.

Setting up Elevate Berkshire for young people not in employment, education or training to provide advice and support into work. A catalyst for employment and skills support for Reading residents and careers advice for school children, every year.

We have been in existence since 2007 and during that time we have worked alongside key partners to train residents for jobs, grow and set up new businesses, attract inward investment and relocating companies, and enhance the visitor welcome.

These are just some of our more recent achievements.

2007 2015

Running the 2016 Reading Year of Culture, with a finale of building illuminations, including Thames Tower.

Delivering Reading on Thames Festival from 2017-19, helping open Reading Gaol for public viewing of an Oscar Wilde tribute, and running the Reading Cultural Awards from 2017-2020.

2017

2019 2019

2018

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Launching the Reading 2050 Smart and Sustainable City Vision, a City of Green Technology, a City of Culture and Diversity, and a City of Rivers and Parks.

Winning a fourth term (2007-19) of the Central Business Improvement District (BID) and added the Abbey Quarter BID as well now servicing 600+ businesses and managing services and products worth nearly £1m per annum.

Launching the Reading What’s On events listing website (2019), followed later by Reading Culture Live website (2020) and the Visit Reading destination website (2022).

Officially recognised in 2020 as a Destination Marketing Organisation (DMO) to support the visitor economy.

2020

Setting up a local Reading Business Network during COVID lockdowns to promote self-help and growth of Reading’s small businesses.

2020

Delivering Reading’s Economic Recovery and Renewal Strategy, playing a key role in closing and opening the town centre, ensuring businesses received financial support and keeping the town centre clean, safe and open for business where possible.

Launching the St James Way, a historic pilgrimage trail from Reading to Southampton as part of the international walking brand the Camino de Santiago.

2020

Rebranding as Reading’s Economy & Destination Agency (REDA), launching a new destination website for Reading visitors and businesses, and a new place brand for Reading.

Launching a new screen skills and supply chain initiative, collaborating with business and educational institutions to create a wraparound service for the film and screen ecosystem, and securing additional government funding to support the delivery of Screen Skills throughout the Reading community.

2023

Winning a fifth term of the Central Business Improvement District (BID) and second term for the Abbey Quarter BID, continuing to serve 750+ businesses and investing £1.5m in services and marketing to support our town centre businesses.

2024

2022 2021

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Reading’s Economy & Destination Agency The Library Building, Abbey Square, Reading RG1 3BQ

www.redauk.org.uk