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Rutland Growth Summit

Rutland Growth Summit . Wednesday 8th January 2014. Rutland Growth Summit 2014 WELCOME AND OBJECTIVES Cllr. Terry King (Chair) Deputy Leader Rutland County Council. Innovative and Growing Companies. M M T Digital Ltd. Growth: Our Strengths .

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Rutland Growth Summit

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  1. Rutland Growth Summit Wednesday 8th January 2014

  2. Rutland Growth Summit 2014WELCOME AND OBJECTIVESCllr. Terry King (Chair)Deputy LeaderRutland County Council

  3. Innovative and Growing Companies M M T Digital Ltd

  4. Growth: Our Strengths • Relatively high skill base, level of professional and managerial above national average • Measure of untapped entrepreneurial capacity • High business start-up rates • High overall employment, self-employment rates 3 times EM • Accessible to urban centres • Peterborough, Leicester by A47 • Main N-S communication links • (A1, rail-link & Birmingham to Stansted)

  5. Growth: Our Challenges • Opportunities for higher skilled employment locally are limited • High level of commuting to nearby urban centres • In-commuting to lower level occupations • Low wage equilibrium for those who live and work in the County • Transport and connectivity issues within the County • Loss of public sector employment, armed forces, prison closure • Access to finance for SMEs • An ageing population • Low unemployment

  6. THE ENTERPRISE PARTNERSHIP APPROACH TO GROWTHMark ReeveChairmanGreater Cambridge Greater PeterboroughEnterprise Partnership

  7. Growing the economy8th January 2014Mark ReeveChairman

  8. The LEP Team … And you!

  9. Our goal “Our goal is to develop our internationally competitive, nationally significant economy bringing together the diverse strengths of our area.”

  10. Our Priorities • Enterprise Zone • Infrastructure • Skills • Enterprise • International Profile

  11. Skills • Comprehensive skills survey underway • https://www.surveymonkey.com/s/LEPSkills • Local Skills Team to be launched in 2014 • Rutland covered by the first wave • Providing future workers with the skills you need • Linking businesses to education • Skills Strategy in place

  12. Agri-Tech • Successful £3.2m Regional Growing Funded project • Eastern England Agri-Tech Growth Initiative • Grants programme launches this month • Innovation Centre to be created

  13. LEP Prize Challenge • £1m fund for Voluntary and Social Enterprise led projects • Getting people job ready (1,000) and into work (250)

  14. Growing Places Fund • £16.1m of funding • Projects include: • Oakham Enterprise Park • Haverhill Research Park • Fenland Horticulture & Land Based Skills Centre • Future Business Centre • Transport improvements

  15. GPF Round 2 • Circa £5 million • Unlocking jobs • Accelerating economic growth • Call for projects from 24th January

  16. Grants4Growth • Grants available for: • Investing in technology or processes to facilitate growth, improve resilience or create/ safeguard jobs • Put in place efficiency initiatives to reduce waste, water or energy use • Reduce the environmental impact of operations • kurt@grants4growth.org.uk

  17. Looking ahead… • European Funding Strategy • Local Growth Strategy • Year of Exporting • Growing our economy

  18. Thank you for listeninginfo@yourlocalenterprisepartnership.co.uk@YourLEPwww.yourlocalenterprisepartnership.co.uk

  19. OVERVIEW OF CURRENT GROWTH PROJECTS AND CONCEPTS IN RUTLANDCllr. Terry KingDeputy LeaderRutland County Council

  20. 1. Employment Land • Former HMP Ashwell, 24 acre site • Four large former cell blocks demolished to create 3 acre space for commercial building plots • Prison fence being dismantled • Over 60% of available business units either let or under negotiation with tenants • Sports centre now being used by local clubs, e.g. Vale Judo • £0.5m Sport England bid for refurbishment of sports centre – decision expected early January

  21. 2. Broadband Superfast Fibre Broadband • First Superfast Broadband enabled County • BT, Rutland Telecom and Gigaclear already providing services to parts of the County commercially • Digital Rutland project to focus on areas that are not covered by a commercial deployment • All 10 exchanges in Rutland have been upgraded • Download speeds of up to 80 Mbps • 1st live cabinet in the East Midlands using BDUK/public funding (July 2013)

  22. 3. Supporting Business • Labour Supply – Access to Transport • Worklink employment shuttle bus • Oakham Bus Station • Business Finance Support • RCC Business Loan Scheme • Rutland Business Volunteer Mentor Scheme • Skills Development • Need to improve skills of workforce – • big split in skills between those who live • and those who work in county

  23. 4. Capital/Revenue Investment • Supporting businesses to access GCGP Growing Places Funding • Working collaboratively with Northern GCGP EP authorities on funding bids • Joint £475K p.a Ready for Work Growth Deal Funding Bid submitted to GCGP EP for consideration – 2015 onwards to support apprenticeships network and work placements • Joint Interim Skills Pilot bid to GCGP EP – 2014 helping young people understand the breadth of roles available in different business sectors and developing their employability skills.

  24. Rutland Growth Summit 2014 Discussion Session • What else can the Council do to help, not hinder, your business growth? • What do you want us to do ? • What do we do that gets in your way?

  25. Rutland Growth Summit 2014 QUESTIONS TO THE PANEL Cllr Terry King (Chair)

  26. BUDGET CONSULTATION • Saverio Della Rocca • Cllr. Terry King

  27. BUDGET CONSULTATION Our medium term financial plan AND BUDGET Saverio Della Rocca

  28. BUDGET CONSULTATION KeyPoints • Council’s budget for 2014-15 is £30.5m (net of depreciation).  The budget is lower than it has been in last 4 years. (11-12 £31.4m, 12-13 £31.2m, 13-14 £32.1m) • Council is making new savings of £925k but no reductions in key services • Council’s funding has reduced in 2014-15 and will do so again in 2015-16. Funding from Government (if we include business rates) has reduced from £12.2m to £11.78m from 2013/14 to 2014/15 • No Council Tax rises planned for 4th successive year • No major capital projects other than those ongoing e.g. Oakham Enterprise Park • Beyond 2015-16 is very uncertain and there are other threats on the horizon, e.g. New Homes Bonus review

  29. BUDGET CONSULTATION Key Points • Council’s strategy is to use balances in a controlled way whilst it ‘right sizes’ expenditure • Government has announced 2% increase in Business Rates and other changes, including extending small business rate relief to April 2015; introducing a discount of up to £1,000 for retail premises with a rateable value of up to £50,000; and granting of a temporary reoccupation relief to business that occupy premises previously unoccupied • Council retains 49% of Business Rates income but pays a tariff of c£790k to the Government • Growth above baseline (the amount the Government believes we need in addition to RSG) is retained subject to a 16% levy. Any losses below baseline up to 7.5% are not refunded by Government • No real growth achieved in 2013/14

  30. BUDGET CONSULTATION • YOUR VIEWS ? • Cllr. Terry King

  31. RUTLAND GROWTH SUMMITNETWORKING AND CLOSECllr. Terry King (Chair)

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