A key consideration is the presence of enterprise clusters, the potential for enhancing these, and opportunities for creating new value-added business. Enterprise clusters are configurations of economic activity, whether commercial, civic, or cultural. They may be important not only in terms of their financial and/or social value, but also an an inherent part of local and/or regional identity.

For EPONA, area regeneration is fundamentally about “The Economy of Place”, the need to facilitate a balance between specialisation and diversification, to optimise the mix of land uses, including residential provision, and to support employment retention and creation. High quality planning, urban design and architecture are essential for this to happen.

Property Investment in area regeneration may take the form of development-led projects and programmes contributing to comprehensive renewal, including strategic improvements and additions to local and regional infrastructure. However, short-term speculation in property markets may undermine the real economy of an area, and lead to asset-stripping, loss of employment and affordable housing.

So it is essential to understand the operation of the so-called Land Economy, the cyclical nature of the property and construction sectors, the availability of private and public sector finance, and the roles of planning, taxation and other regulatory measures in supporting sustainable area management and development.

Land-based Assets range from “real estate”, natural resources such as biodiversity, mineral deposits and “renewables” like timber and, most importantly, water, to the historic environment and cultural heritage.

Land-based Industries such as farming and forestry are key agents in the custodianship of such resources. The management of these raises increasingly significant community, ethical and sustainability issues.