Annual Report 2023-24

Alongside the Board of Directors, the REDA team works to drive the economic wellbeing of both the town centre economy through management of Reading’s two Business Improvement Districts (BID), as well as the Greater Reading business landscape.

The REDA Annual Report 2023-24 provides an overview of the deliverables set out for the last financial year, in pursuit of REDA's wider mission to grow business and improve the visitor experience for the benefit of Reading. You can read the 2023-24 report online, but some highlights over the past year includes:

Business growth

• Delivering £319,000 worth of additional direct BID services to over 700 town centre businesses to make the town centre safer day and night, as well as cleaner, more attractive and sustainable
• Investing £303,000 in events and marketing activity to grow back footfall and spend in town centre retail and hospitality and attract employees back to the office, helping to grow visitor numbers to the town centre by 3% year on year
• Working with Reading Borough Council to secure a further £95,000 of Government ‘Safer Street 4 funds in order to make the town centre safer
• Securing £7.5m of private sector support for 5 year BID Business Plans 2024-29  
• Exposing 4,500 young people in school to careers and world of work experiential activity 
• Providing 300 residents with jobs signposting services while major construction sites have been leveraged to create local construction apprenticeships and jobs
• Launching 20 new business start-ups by local residents as a result of REDA funded advice, training and financial assistance
• Extending our Reading Business Network membership by 25% year on year to help local businesses grow
• Launching a campaign to grow the film screen sector supply chain leading to 150 business registrations, maximising opportunities provided by the new Shinfield Studios 

Improving the visitor experience

• Benchmarking the tourist visitor economy with our first Economic Impact Report – job creation (6700) and spend (£392m) in local visitor economy
• Consolidating Reading in the European and UK market for leisure visitors promoting Reading at four leisure and travel exhibitions and grew the relationship with the international travel brand the Camino de Santiago through the development and promotion of St James’ Way pilgrim trail 
• Welcoming 30 group organisers on familiarisation trips to Reading as well as numerous journalist visits producing articles in the national travel press and travel blogosphere
• Growing the presence of the Reading conferencing and meeting offer in the London market with fam trips, dedicated website and brochure as well as business travel show attendance for Reading through Meet Reading
• Organising and partnering with a wide range of high-profile events to grow the visitor market, from Luke Jerram’s Gaia exhibition to Reading Walks Festival, Reading Food Festival and Heritage Open Days
  
  Read the 2023-24 Annual Report