Achievements and Progress in Local Economic Partnerships
In the context of the Local Economic Partnerships (LEPs), significant strides have been made in supporting business growth, setting aspirations for various sectors, bridging local needs with government funding, influencing investment choices, and developing necessary skills. The achievements in the 2019-20 period included various capital projects and programs aimed at enhancing business opportunities and regional development. Financially, the LEPs managed their core funding effectively, surpassing match requirements and leveraging voluntary time and shared services to achieve successful outcomes.
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Presentation Transcript
Pat Doody, Chair Ruth Carver, Chief Executive
Covid-19 Pandemic Increased business support Protected key sectors Shared intelligence Shaped solutions & interventions Building resilience
Role of LEPs We support businesses to grow; We set the aspirations for business opportunity, leisure, & learning; We bridge local need with government funding; We influence decision makers & investment choices; We guide people to develop the skills businesses want; We achieve results greater than our individual parts;
Highlights 2019-20 CAPITAL PROJECTS Two Food Enterprise Zones Agri-Food Centre of Excellence Lincoln Medical School Skills Capital Investment Fund Scunthorpe Town Centre South Humber Industrial Link Road Gainsborough Growth Project Grantham Southern Relief Road
Highlights 2019-20 PROGRAMMES Business Lincolnshire Growth Hub Enterprise Co-ordinators Coastal Communities Funded training Team Lincolnshire Ambassador Programme
Core Funding Total income received was 500,000 Actual expenditure outturn was 488,712 250,000 match requirement of core funding exceeded Match Funding Board Directors Voluntary Time (Equivalent Value) Officer Support (Non accountable body) Consultancy Shared Service Events (Partner contributions) 47,277 241,686 17,813 64,375
Single Local Growth Fund PROJECT NAME Single local Growth Fund Boston Quadrant 201,126 Grantham Southern Relief Road 4,752,607 Unlocking Rural Housing 100,000 Skegness Gateway 526,934 Normanby Enterprise Park 688,708 Agri-food Centre of Excellence 511,680 Holbeach Peppermint Junction 31,615 Lincoln Medical School 4,477,500 Access to Employment Zones 2 664,682 Advanced Engineering R and D Centre 157,790 Grantham Technology and Innovation Centre 200,000 Gainsborough Growth Phase 2 25,000 Riseholme roundabout 213,572 Huttoft 14,657 Sleaford Growth Project 134,175 Europarc Food Enterprise Zone 822,406 DTLA 375,853 South Humber Infrastructure Investment Programme Phase 2 775,413 Due diligence costs 45,071 Total Programme 14,718,789
Other LEP funds Invest & Grow (repayment) 283,906 Feasibility Fund (expended) 98,299 Greater Lincolnshire Growth Fund (expended) 1,291,346 Business Lincolnshire Growth Hub (expended) 246,000
Cash Balances CASH BALANCES 1,045,993 Core Funding, Reserves and other cash balances Cash Balance 1 5,373,043 Growing Places Fund (Invest to grow) Cash Balance 2 3,870,358 Single Local Growth Fund Cash Balance 3 The total cash balance as at 31st March 2020 held on behalf of the LEP by the Accountable body is 10,289,395.
LEP Directors Pat Doody Yvonne Adam Alison Ballard Debbie Barnes Alric Blake Colin Davie Sarah Louise Fairburn Dean Fathers Gary Headland Oliver Hemsley Philip Jackson Zoe King Craig Leyland Suraya Marshall Richard Metcalfe Rob Waltham Mandy Watson Nick Worboys
Opportunity Local Industrial Strategy focus:- Food & food tech Energy & water Ports & Logistics Defence Health & Care Visitor Economy Geographic additions:- Rutland North & North East Lincolnshire
Articles of Association Summary of proposed changes:- Incorporating the new LEP Geography Reducing the number of public sector directors in line with the LEP's Assurance Framework Changing boards to Strategic Advisory Board (sub-board) throughout
Resolutions 1. To re-appoint the accountants of the company for the financial year 2020-21 2. To receive and adopt the accounts of the company for the accounting period from 1st April 2019 to 31st March 2020 3. To adopt the amended Articles of Association
