Proactive RVA forms industry taskforce to tackle finance challenges and stimulate demand

After one week on the job as Acting CEO, RVA President Simon Owen has pulled together 15 industry leaders to develop proactive initiatives rather than wait for the declining economy to further damage the industry. The argument is that a 20% drop in sales equates to 20% of ILU resales lost (1,850 ILU’s) and 20% of $2.4 billion in construction lost ($480 million) in 2009. He has invited bankers, developers, operators and suppliers to the panel. The first brainstorming meeting has been held and initiatives developed to tackle the difficulty of raising finance plus creating innovative demand stimulants. Owen is pushing for concrete solutions to be formalised within four weeks. He is also keen to engage the Not For Profit sector as partners in the process, who face the same challenges.