Agenda item

Progress on three key projects of the City Deal contributing to the Coventry and Warwickshire Strategic Economic Plan

Briefing note of the Executive Director, Place

The Board received a Briefing and presentations of the Executive Director, Place that provided an up-date on Coventry and Warwickshire Local Enterprise Partnership projects within the City Deal and the Growth Plan, and their associated impacts and benefits.

Coventry and Warwickshire successfully negotiated a City Deal with Central Government, which was endorsed by Elected Members at the meeting of the Council on 14^th January 2014 (their minute 127/13 refers), which aimed to create 15,000 new jobs by developing the local economy, with a particular focus on the Advanced Manufacturing and Engineering sector.

Coventry and Warwickshire were also successful in securing a Growth Deal with central government to support economic growth within the local area. By 2021 at least 1,000 jobs would be created and 1,000 homes built.

One of the most important elements of the Coventry and Warwickshire City Deal was the establishment of a “Clearing House” or Growth Hub, where key business support activities would be located in one building.

To fund the first year of City Deal activities the Council secured a further £2.7m of Regional Growth Fund on behalf of the Coventry and Warwickshire Local Enterprise Partnership with a particular focus on the activities of the Growth Hub.

In addition to this each Local Authority in Coventry and Warwickshire had made a contribution to the City Deal and activities of the Growth Hub, totalling £1.123m.

In its first year of operation the Growth Hub aimed to create 217 jobs, 60 skills interventions, invest £1.4 million of funding to businesses and lever £5.25m of private sector funding into the region.

Work on the City Deal was progressing, and update reports were presented on three of the key projects for Coventry: Skills4Growth, North South Station Scheme, Coventry City Centre Road Access:

Skills for Growth – A specialistskills strandof the Coventry& Warwickshire GrowthHub contractedto support 48 learnersand 12 graduate placementswithin Coventry& Warwickshirebased Advanced Manufacturing& Engineering smalland medium sizedenterprises during the2014/15 financialyear,tohelp improveskills amongstthe sectors workforce. This had so far achieved17 graduates, both new graduates and the unemployed/underemployed,intoyear-longemployment and 19employedpeople had receivedtrainingtohelp improve their Skills.

North South Station Scheme - £3.49m of funding for Nuckle2 for a new rail station at Kenilworth and a new rail service from Leamington to Coventry by December 2016; £19.48m of funding for Coventry Station that would provide capacityforgrowththrough a newstationentrance; a footbridgebetweenplatformsandcanopyextensions; improvedpublictransportinterchange; and newparkingfacilities, that would be deliveredby the end of 2018; and £8.025m of funding for the Nucklepackage1 phase 2 that would provide a new bay platform at Coventry Rail Station with associated track and signal works, that would be deliveredby the endof 2016/17.

CoventryCity Centre Road Access - £5m GrowthDeal funding was beingused tomatchEuropean Regional Development Fund funding to supportphase 3 of the City Centrepublic realm works and would support works to Belgrade Plaza, Lidice Place and Bishop Street.

The Board questioned officers and discussed the benefits of the graduate placements; the skills development of employees within companies; and the Governance arrangements of the LEP. They noted that although the Economic Plan had focussed on Manufacturing, work was now beginning with partners to develop Arts and Culture in the region. They also noted that there had been an increase in the funding secured for LEP projects and requested that a Briefing Note providing details of the revised funding be circulated to Members of the Board.

RESOLVED that:

1)  The Business, Economy and Enterprise Scrutiny Board (3) notes the progress made on delivery of the Coventry and Warwickshire Economic Plan.

2)  There were no further recommendations for the Cabinet Members.