Agenda item - Greater Brighton Inward Investment Desk

Report of the Chair, Greater Brighton Officer Programme Board

1)             That the Board agrees to the establishment and resourcing of an inward investment desk consisting as a minimum of two business managers and one researcher supported by additional communications and intelligence resources.

2)             That the Board agrees first hire should be focussed on identifying new opportunities from London-based companies rethinking their footprints post-COVID. The research support would help to identify potential foreign targets that should be engaged and should focus on cleaner and greener aspirations and Covid recovery.

3)             That the Board seeks to work with Coast to Capital LEP on the development of a bid to DiT’s High Potential Opportunities programme, with partners agreeing on a collaborative approach to identify what the niche sector is that HPO should focus on and the support required to promote it.

4)             That the Board agrees that initial cost of resourcing the desk should possibly be underwritten by local authorities, with funding sought from other sources including Government incentives and private sector contributions.

22.1      The Board considered a report of the Chair, Greater Brighton Officer Programme Board that sought approval for the establishment of an dedicated inward investment resource as recommended by the Board’s Inward Investment Strategy.

22.2      Councillor Mac Cafferty stated that the pandemic would present the region with multiple challenges and expressed his support of the proposals that represented opportunity for the region to become an economic hub in its own right.

22.3      Clare Mason stated that C2C supported the initiative that could help boost export opportunity for regional SME’s.

22.4      Councillor Lamb stated that the region did need inward investment however, there was currently a lack of oversight on resource allocation in the Greater Brighton region and that needed to be clarified to ensure investment was spent wisely and proportionally.

22.5      Nick Hibberd stated that detailed information providing oversight on the Greater Brighton budget and how it was spent could certainly be provided and would be included in the annual report going forward. Nick Hibberd clarified that grants would first be sought for the projects identified and if that was not possible, contributions from Board members would be sought where it could be demonstrated that contribution would benefit the rebuilding of the local economy.

22.6      Councillor Ash-Edwards stated that it was important to focus on the added value working together could bring and that it was key to draw down any private investment possible and a focussed approach would achieve best outcomes.

22.7      Councillor Nicholson stated that there was an opportunity to re-think approaches to inward investment toward a system that created equality. Councillor Nicholson added that the public sector needed to be the anchor spend, seeking to build SME’s and social enterprise whilst protecting those most vulnerable.

22.8      Dean Orgill stated that investment was critical to boosting trade and an ambitious approach would in turn help boost the regional supply chain.

22.9      Councillor Nicholson proposed that the wording of recommendation 2.2 be amended to reflect the emphasis in region on a cleaner environment and carbon reduction and the importance of the economic recovery from the pandemic.

22.10   Following the Board agreed that the wording of recommendation 2.2 be amended to:

That the Board agrees first hire should be focussed on identifying new opportunities from London-based companies rethinking their footprints post-COVID. The research support would help to identify potential foreign targets that should be engaged and should focus on cleaner and greener aspirations and Covid recovery.

22.11   Councillor Lamb stated that his concerns about accountability remained and Crawley would not be contributing without reassurance and clarity.

22.12   RESOLVED-

1)             That the Board agrees to the establishment and resourcing of an inward investment desk consisting as a minimum of two business managers and one researcher supported by additional communications and intelligence resources.

2)             That the Board agrees first hire should be focussed on identifying new opportunities from London-based companies rethinking their footprints post-COVID. The research support would help to identify potential foreign targets that should be engaged and should focus on cleaner and greener aspirations and Covid recovery.

3)             That the Board seeks to work with Coast to Capital LEP on the development of a bid to DiT’s High Potential Opportunities programme, with partners agreeing on a collaborative approach to identify what the niche sector is that HPO should focus on and the support required to promote it.

4)             That the Board agrees that initial cost of resourcing the desk should possibly be underwritten by local authorities, with funding sought from other sources including Government incentives and private sector contributions.