Economic Assets Programme
The Homes and Communities Agency (HCA) manages the Economic Assets Programme (EAP) on behalf of the government. The objectives of the EAP are to:
- support local economic growth and regeneration in local communities
- make sure that our used land and property assets matches the economic ambitions of local areas, including creating jobs, supporting enterprise, and developing skills and technology
- provide a more comprehensive range of development support in local areas alongside the government funding invested by the HCA in building new homes, getting public land ready for development, and regeneration
- reinvest money generated by the sale and development of some assets, into other assets, so that the development potential of all is achieved
- support the government’s growth and employment policies by increasing local opportunities
The HCA took ownership of the 300 land and property assets in the EAP, with a value of £300 million, in 2012. It has established local stewardship partnerships, made up of local councils, local enterprise partnerships, businesses and other local partners, to meet the EAP objectives in each area.
The HCA combines investment from the other programmes of government funding it manages, using its experience in public / private partnerships and land management. The HCA encourages local councils to combine their own land with HCA land to create more opportunities.