The Institute of Economic Development (IED) has strengthened its Board of Directors with the appointment of a private sector economic regeneration specialist.
Rebekah Formosa, Director – Town Centres & Economic Regeneration at leading UK commercial and residential real estate consultancy and agency Lambert Smith Hampton, joined the Board last month.
In her role, Rebekah works with public sector organisations to ensure their estate is aligned to their business plan and corporate needs, provides business case development and funding applications (to government and internally), and advises on general accommodation and estate strategy matters. She supports local authorities, central government, NHS Foundation Trusts, police forces, and other public sector organisations.
Rebekah moved to Lambert Smith Hampton in 2017 after more than eight years with Cushman & Wakefield’s public sector advisory team, covering central government, local government, healthcare, bluelight services and education. During this time she was also seconded to The Home Office assisting in writing the National Estate Strategy. Overall, Rebekah has 14 years’ experience in economic regeneration.
“Having been an IED member for about 12 months, together with six other colleagues at Lambert Smith Hampton, when the opportunity came up to apply to join the Board it was something I really wanted to do,” Rebekah said.
“I began my career in economic policy, evaluation and impact assessment, but over time that has evolved into a more hands-on approach where we are looking forward not back. This means advising public sector organisations on how to use their property more efficiently through accommodation, estate and asset strategies, property portfolio reviews, and business case and options appraisal. This is exactly where economic development professionals make a difference, assessing where they are now and where they want to go to, in order to have a direct and long-term effect on their local area.
“I am keen to bring this collective expertise to the Board, helping the organisation to set the standard for our profession, and extend our reach and impact. It is crucial that we ensure our offer is useful and relevant to whatever issues are in season, including through training, CPD, and thought leadership content. This will enable the IED to go further, and most importantly, those at the heart of economic development.”
IED Chair Tom Stannard added: “I would like to welcome Rebekah to the IED and am looking forward to working with her in this capacity. With a growing private sector consultancy base within our membership it is important that we provide effective representation within our Board. Not only that, Rebekah is at the forefront of supporting economic development professionals in local authorities on business case development and funding applications, which is a significant challenge facing our public sector members. Her background and expertise will enhance our Board’s credentials enormously.”