Agenda item

To receive any comments from the Chair of the Local Enterprise Partnership.

Professor Steve West, Chair of the Local Enterprise Partnership (LEP) Board commented as follows:

1. Impact of Local Growth Fund 

The LEP has overseen the management of the Local Growth Fund which supports co-ordinated activity across the region to support businesses, develop skills for the future and ensure the appropriate infrastructure is in place.  The fund totals £202.1m in the West of England, with a further £13.7m secured through the Getting Building Fund which provides funding in this financial year to support capital projects which could help to accelerate national recovery. These spend requirements are on track and the region was starting to see some of the real benefits as projects come to fruition. These include:

* Projects to support Research & Development, including:

- the opening of Foodworks South West.

- the Virtual Reality Lab in Bristol.

- Future Space, supporting the National Composites Centre.

- Significant investment into the soon-to-be completed Grow On 2 and Institute of Advanced Automotive Propulsion Systems at the Bristol and Bath Science Park.

* Enabling works to support major regeneration opportunities including Bath Quays North and South and Temple Quarter Enterprise Campus.

* Significant new Further Education provision including:

- the Future Technology Centre at Weston super Mare.

- the Construction Skills Centre at Radstock.

- SGS Brunel Centre in North Bristol, to deliver STEAM subjects.

- City of Bristol South Bristol Construction Centre

In addition, projects were in place to support walking, cycling and public transport including significant investment in the Cribbs Patchway MetroBus Extension and the MetroWest rail programme.

2. Supporting regional recovery

At its recent meeting, the LEP Board discussed the ongoing challenges the pandemic and current lockdown were presenting to our businesses and residents. LEP Board members were playing a leading role in the Regional Recovery Taskforce’s recovery plan.  Some of the actions prioritised in this plan were due to launch soon including:

* Small Business Grant funds, offering support grants ranging from £1500 - £6000 due to launch in March.

* The Talent Retention Platform to advertise employment opportunities to those businesses facing the prospect of making their staff redundant, due for launch in April.

This will take the total investment in the region’s businesses and skills to over £100m over the next four years.

Innovation was one of the key pillars of the Local Industrial Strategy, and the LEP Board welcomed the Full Business Case for the Innovation for Renewal and Opportunity project and award of £5.716m from the WECA Investment Fund to support businesses across the region through an extension of the highly successful Business Innovation Fund and package of support for the manufacturing and supply chain. This intervention would provide a key foundation for the West of England Freeport bid.

3. Business planning for the future

The LEP Board welcomed the WECA Business Plan for 2021-22 which demonstrated how WECA was continuing to work in partnership to drive recovery across the region. The LEP Board and the Regional Recovery Taskforce will continue to work with WECA and partner organisations to ensure that the support available is targeted to those most in need.

The LEP Board also supported the proposals for a regional housing delivery strategy to accelerate the availability of affordable housing for residents, and the work to maintain the bus network that was so essential for many key workers.  The Board also welcomed the study into transport decarbonisation as a step towards clarifying the strategic interventions required to help achieve the target of carbon neutrality by 2030.

4. Representing the region’s businesses

The LEP Board has a responsibility to ensure the business voice is represented in regional decision making and investment. The Board continues to press government to ensure future funding is identified in the forthcoming budget and comprehensive spending review to ensure continued delivery of the best outcomes for our region. The Board noted the ongoing success in attracting a number of new funding streams into the region and the way that we are able to work in partnership, across local boundaries to ensure we maximise the opportunities for everyone in our region.