Established in 2011 TDA is responsible for promoting economic development, physical regeneration and business growth within Torbay, together with the provision of other services across the South West.
TDA is wholly owned by Torbay Council and was set up to deliver a coherent programme of economic development and increase the pace of delivery. It was established to increase both public and private sector investment; provide more job opportunities and facilitate better business development and engagement.
Its primary objectives are to:
· lead economic development and regeneration in the Torbay region as a whole, promoting economic development, physical regeneration, the renewal of infrastructure, socio-economic improvements and business growth;
· work alongside Torbay Council and act as its ambassador for the economic development of the Torbay region as a whole, supporting its vision for the local economy and identifying the tools to encourage economic growth delivery;
· encourage, facilitate and increase business development and inward investment in (and to) the Torbay region and identify opportunities for the same;
· raise the profile of and promote Torbay as a business location and make the region more attractive to entrepreneurs and the public as a whole.
The TDA is set up to be socially motivated. This means that surpluses which the company makes are reinvested to deliver the regeneration goals of the company. The TDA has grown rapidly and it now has a large number of clients whilst continuing to deliver a significant work programme for its owner.