Issue - meetings

This report sets out proposals for the funding of three projects through the Economic Infrastructure Fund (EIF).

RESOLVED:       That Cabinet approval be given to the following funding allocations from the Economic Infrastructure Fund:

·                £3.3m for the Reinvigorate York programme

·                £30k for Economic Growth Analysis

·                £250k for Promoting York

REASON:            To support the Council Plan priorities of creating jobs, growing the economy and investing in the city’s economic future.

Consideration was given to a report which set out detailed proposals for the funding of three projects through the Economic Infrastructure Fund.

The first for the Reinvigorate York Programme (as detailed in the previous minute), the second for work in the promotion of York in markets within the UK and beyond, particularly promotions of  our locally specific strengths. The final project related to funding through an Economic Growth Analysis which would provide a critical evidence base identifying the likely future growth trajectory of the city’s economy and particular sectors within that economy.

An overview and financial analysis of each of the projects was set out at paragraphs 8 to 43 and at Appendices 1 and 2.

Cabinet Members spoke individually to confirm the need for investment in these important projects in order to increase visitor numbers, York’s profile  and to create an increased opportunity for exporting for local businesses.

RESOLVED:       That Cabinet approval be given to the following funding allocations from the Economic Infrastructure Fund:

·                £3.3m for the Reinvigorate York programme

·                £30k for Economic Growth Analysis

·                £250k for Promoting York ^1.

REASON:            To support the Council Plan priorities of creating jobs, growing the economy and investing in the city’s economic future.