Decision Maker: Gloucestershire Economic Growth Joint Committee
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: No
Andrew Cummings, Strategic Director of Resources, Stroud District Council, provided the Committee with a verbal update on the Gloucestershire Business Rate Pool.
The Committee was informed that the forecasted position for the pool for this financial year was still broadly in line with the forecast provided at the last meeting of £3.8million. Additionally, there would be no business rates reset this year, and that £2.3million remained unallocated in the Strategic Economic Development Fund (SEDF).
One member queried the impact of the pandemic and business rates holiday on the Business Rate Pool. In response it was explained that the impact would start to become clear over the next few months and that this would be carefully monitored. There was also a comment regarding the unsustainability of business rates in the longer term.
Mike Dawson presented the request for SEDF funding from the City Region Board for £50k to produce a City Region Prospectus for Gloucestershire. It was understood that the funding request was to be drawn down from the City Region Board funding allocation within the SEDF. The prospectus would be developed to promote Gloucestershire, and to set out the offer Gloucestershire had.
Tim Atkins presented the request for £200k of funding from the SEDF to progress a range of work streams to drive forward cyber and digital growth in Gloucestershire.
There was a discussion as to how the funding for cyber and digital growth would be monitored, and on the development of a digital strategy for Gloucestershire.
Following the discussion, it was agreed that any approval of funding was subject to the development of governance arrangements and detailed scoping of the County digital strategy, which would be overseen by the SOG.
On being put to a vote, it was
1. Agree the funding request for £50k to be drawn from the City Region Board funding allocation within the Strategic Economic Development Fund; and
2. Agree an allocation of £200k of funding from the Strategic Economic Development Fund to progress a range of work streams to drive forward cyber and digital employment growth across the County and maximise the wider benefits of the Golden Valley Development.
Report author: Andrew Cummings
Publication date: 03/02/2021
Date of decision: 20/01/2021
Decided at meeting: 20/01/2021 - Gloucestershire Economic Growth Joint Committee