Agenda item

To receive a report of the Leader containing the Kent and Medway Growth Deal, submitted as part of the South East Local Enterprise Partnership Strategic Economic Plan to Government on March 31^st 2014 and setting out the anticipated next steps.

(1)     Cabinet receiveda reportdetailingthe content of the StrategicEconomicPlan recentlysubmittedby the South East LocalEconomicPartnershipto Government and containingthe Kent and MedwayGrowth Deal.Thereportalso set out the anticipatednext steps forthe planand fundingarrangements.

(2)     Mr Dance,CabinetMemberforEconomicDevelopmentintroducedthe report and in particularmade the followingpoints:

i.        Thatthe growthplan forthe South East LEP would£1.1billion and that after followingthe federatedmodelcurrentlyin placefor theSELEP, the KMEP elementsoughtto secure£501.5million forprojectdelivery oversixyears.

ii.       Thatprojectswould need to be prioritisedfor 2015-16and inthe summer Governmentwould announceplans for fundingfuture projectsas set out in the strategicdocument.

iii.      Thatthedocument waswell producedand timelyand that RossGillbe thanked

(3)     Ross Gill,EconomicStrategyand Policy Manager,spoke tothe itemson addedthe followinginformation tothe comments oftheCabinet Member:

i.        Thata largeproportionofthe£501millionmentionedby the CabinetMember wouldbe allocatedto transport investmentand Governmenthad now requested that the projectsput forwardbe prioritised and ranked.

ii.       Thatalthoughthefund currentlytook the form of a ‘singlepot’ therewere alreadycertain ringfenceditems,skills capitalinvestment beingone ofthose areas.

iii.      Fundingwould come on streamin April 2015forone yearbut that afterthat the future of the fundingwas uncertain.

(4)     Mr Simmondsspoke aboutthe skillsand employmentaspect ofthe document and thedifficultycreatedby biddingforcapitalfundswhere revenuefundingwas not currentlybeing considered.

(5)     Mr Dancerespondedto the discussionby describingthe membershipoftheKMEP which includedbusinessmen,BIS and others.  Therewere, he reported,more businesses thanpoliticians and thatwas goodnews forpartnershipworkingand futuresuccess.

(6)     Thereportwas noted.