Inverclyde's urban regeneration company has said it will review their targets, work more closely with the local authority and Scottish Enterprise and have a new board.

The move comes as the mid-term review is published for the first time after all partners, including the Riverside Inverclyde board, have examined the report.

The newly appointed interim Riverside Inverclyde board chair, Councillor David Wilson, explained: "The leaked report earlier this year needed to be examined by all partners before being published. That has now happened and the report is now in the public domain. Our Board wholeheartedly accept the findings of the mid-term review.

"While it is clear that Riverside Inverclyde struggled to meet some very tough targets, it does need to be put in context that Riverside Inverclyde has been operating during the biggest recession in living memory and that it has delivered in many areas.

"The physical infrastructure of Inverclyde has been transformed as a result of the work Riverside Inverclyde has carried out and the evidence is there for all of us to see. One example is that they helped deliver the new Beacon Arts Centre, a project which is receiving praise across the arts community across the country.

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"While private sector leverage and new jobs created are low, Riverside Inverclyde has performed well when it comes to jobs protected and provision of business space. The mid-term review is an important step in the life of Riverside Inverclyde. It is a chance to look at what has worked well, what hasn’t and to create a new plan of action."

The structure of the board of Riverside Inverclyde will change to a new composition which includes three from the private sector, one from Scottish Enterprise, one community representative, three from Inverclyde Council and one from the chamber of commerce. The chair will come from the private sector members. Riverside Inverclyde and the council's own economic development service will create a joint operational plan.

Among the statistics highlighted by the report, Riverside Inverclyde has delivered:

• 25.73 hectares of land ready for development, land improved and public realm.
• 23,073 metres squared new business space. This figure is 66% of the 10-year target set out and includes the Beacon Arts Centre and shop front improvements.
• Jobs created by the mid-point were 191 against an ambitious 10-year target of 2,600.
• 308 jobs have been safeguarded in the area. There was no target set for that.
• Construction jobs created of 135 against a 10-year target of 110.
• 121 housing units were created against a target of 2,285 set before the recent housing and banking crisis.
• 200 berths have been created for leisure craft, 40% of the 10-year target.
• Private sector investment of £3.6m is 1% on target and potentially projected to reach £38m by 2020.

Inverclyde's Council Leader, Councillor Stephen McCabe, added: "With an interim chair and chief executive in place, now is the right time to learn lessons from the mid-term review and to move forward. In Inverclyde we are very good at talking ourselves down.

"There's plenty to be proud of and with the mid-term review completed and a new joint operating plan being developed, we have an opportunity to learn those lessons and for Riverside Inverclyde to continue to deliver for our area with, perhaps, more realistic targets in place."

(JP/CD)