Future Stratford

The London Development Agency

The London Development Agency (LDA) is London's regional development agency, promoting inclusive and sustainable economic development and regeneration for the capital. Established in July 2000, it works for the Mayor of London and in partnership with businesses and other organisations.

The Agency developed the Mayor's Economic Development Strategy for London, Success Through Diversity, which sets out how this will be achieved through economic growth, knowledge and learning, diversity, inclusion and renewal, and sustainable development.

The LDA inherited a number of regeneration programmes. These include the Single Regeneration Budget, the Skills Development Fund, London's Inward Investment Budget, London's Innovative Cluster and Competitive Funds and sites previously managed by the English Partnerships.

The LDA continues to support these inherited programmes under the Single Pot. The money for these programmes currently makes up a large proportion of the LDA's total funding. However, in future years the balance will change more towards support newly commissioned programmes as those which have been inherited run their course.

The LDA is funded through central government but the money to deliver the Economic Development Strategy comes through the Mayor.

Some of the money received by the LDA is pooled into a collective fund called the Single Pot. At the moment, the LDA is running a number of inherited programmes for which the budgets are already set. These included the Single Regeneration Budget, the Skills Development Fund, London's Inward Investment Budget, London's innovation Cluster and Competitive Fund and a number of majopr development sites previously managed by English Partnerships. However, as these programmes finish, more and more funding will become available for LDA commissioned projects.

The Single Programme budget for the London Development Agency in 2002/03 is £300 million. The budget comprises central government funds for regeneration, skills, land and property development, inward investment and regional innovation.

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