Thu, 01 Nov 2018
NEWBURY’s first Community Interest Company (CIC) to help “turbocharge the district’s economy” will be launched in the spring.
Newbury West Berkshire CIC will be an independent, non-political body made up of several key stakeholders who will all play a part in helping to raise the profile of the town and promote Newbury as a destination.
The non-for-profit company will promote and sustain economic development in Newbury by harnessing public and private sector interests.
The CIC aims to:
The CIC will be officially formed this month, before a funding model and brand is worked on in December, by which time the full stakeholder group will have been formed ahead of its launch in the spring of 2019.
West Berkshire Brewery chairman David Bruce will chair the CIC and other organisations on board include Newbury Racecourse, Vodafone, Roc Technologies, The Vineyard Group, Parkway Shopping, YA Properties, Newbury Showground, The Newbury pub, Berkshire Youth, Newbury College, the Corn Exchange, Greenham Trust, Newbury Weekly News, Newbury BID and West Berkshire Council.
The CIC board will be supported by a working group, made up of Greenham Trust chief executive Chris Boulton, Newbury Weekly News editor Andy Murrill, Newbury BID managing director Russell Downing, YA Properties director Ian Young and Berkshire Youth chief executive David Seward.
During his previous role as editor of the then Reading Post, Mr Murrill was involved in the establishment of Reading UK CIC, which was set up in 2007 and has been a prolific driver of economic development in the neighbouring town.
Addressing the Newbury Vision conference, Mr Murrill asked the audience: “People might know where Newbury is, but do they know where West Berkshire is?
“The Newbury CIC will help turbocharge the district’s economy and put us on the map.”
Newbury West Berkshire CIC will also focus on reducing the number of business movers, growing existing businesses and retaining the young workforce, as well as accumulating a greater ‘dwell-time’ among visitors.
Mr Downing said the CIC would “help raise the profile of Newbury”.