SWINDON’S regeneration plans could be back on track after councillors backed a new economic strategy.

The borough-wide delivery plans under the subsidiary company Forward Swindon Limited (FSL) will oversee marketing, economic development, inward investment and cultural development in the town.

The plan will see the transfer of undertakings mainly from the New Swindon Company to FSL coming into effect from Thursday, April 1.

During a Cabinet committee meeting at the Civic Offices, councillors agreed this was the best course of action.

Coun Phil Young, the cabinet member for culture, regeneration and economic development, said: “This has been a long time coming, but I feel Forward Swindon Limited will deliver a better economic strategy.

“This will be able to give us more of a borough-wide focus rather than just the town centre.

“We’ve really had to flex our muscles and grit our teeth over this. I’m hopeful this will empower the council and deliver the regeneration we need in Swindon.”

Some of the key objectives are to drive forward the development of Union Square and to deliver improved town centre shops offered by developing Granville Street car park.

One of the five-year schemes is aimed at ensuring the new bus station is completed and operational.

FSL’s aims on cultural development are to maximise the opportunity for existing activities in order to improve Swindon’s image and develop an aspirational cultural quarter in the town centre.

Rod Bluh, leader of Swindon Council, said: “This is an immense piece of work over a long period of time and this issue is a top priority.

“It frustrates me that the regeneration should have happened 10 years ago before the recession, but we are where we are now.

“It will mean more focus on the regeneration than ever before and we have to get behind it and support it.”

The agreement will be on a rolling annual five-year business plan, with mid-year review and progress reports.