This paper deals with two outstanding forms of state intervention devised to cope with structural change in old industrial areas: Urban Development Corporations (UDCs) in Great Britain and the Emscher Park International Building Exhibition (IBA) in the Ruhr district in Germany. In Sections 2 and 3, we deal with UDCs and the IBA separately, concentrating on their history, objectives, modes of operation, financial arrangements, and their relationship with other heal and state agencies. Furthermore, these two policies are related to the general political and social situation in Britain and Germany. In Section 4, we compare the IBA with UDCs directly, discussing whether these schemes can be considered a success with regard to their own objectives. Of particular importance is the role of the local level and the opportunity for various actors, interest groups and public bodies to participate in the process of restructuring. Finally, we reflect upon the implications for planning in general emanating from the IBA and UDCs. One important result of our research is that the very broad approach behind the IBA — despite certain inherent contradictions — will do more justice to the multi‐faceted problems of old industrial areas than the concept of ‘regeneration’ behind UDCs.