Issue - meetings

Resolved:  That the Combined Authority endorses the LEP Board’s decision to adopt the revised criteria and associated conditions for awarding grants from the Business Growth Programme (BGP) as set out in Appendix 1 to the submitted report, commencing from July 2018, with a review of outputs and outcomes to be undertaken after six months.

The Combined Authority considered a report of the Executive Head of Economic Services on the LEP Board’s decision to adopt the revised criteria and associated conditions for awarding grants to businesses from the LEP/Combined Authority’s Business Growth Programme (BGP), commencing from July 2018.

It was reported that as part of the City Region’s approach to a local inclusive industrial strategy, the LEP is proposing to revise the criteria and associated conditions for awarding grants to incentivise businesses to grow in a way that delivers inclusive growth. The report provided an overview of the consultation and the main findings to date were noted.

Members discussed the importance of linking businesses with young people, ensuring a range of training is available to make the best use of the workforce and the need to monitor outcomes over a sustained period.  The revised approach which was set out in Appendix 1 to the submitted report was endorsed. Members welcomed the proposal and that the proposed changes aimed to improve inclusive growth within the City Region by encouraging, incentivising and supporting businesses to pay higher wages and invest in their current and future employees.

Resolved:  That the Combined Authority endorses the LEP Board’s decision to adopt the revised criteria and associated conditions for awarding grants from the Business Growth Programme (BGP) as set out in Appendix 1 to the submitted report, commencing from July 2018, with a review of outputs and outcomes to be undertaken after six months.