Decision details

Cabinet:-

(1)          reviewed the success of the scheme in its current form and financial commitment; and

(2)          approved the continuation of the scheme, in principle, including allocation of reserves, where appropriate, and when current reserves are fully committed.

Councillor Bill Mordue, Cabinet Member for Business, Skills and Economic Development, presented a report to Cabinet stating that the Business Investment Incentive Scheme is a discretionary Grant funded Scheme, launched in October 2014, aimed at encouraging investment and local job creation through a package of incentives. He stated that the report forecasted positive outcomes for Doncaster and its residents.

It was reported that companies from across the Borough and from all business sectors had benefitted from the scheme, and other local authorities were looking at adopting this initiative themselves. Councillor Mordue stated that the results of the pilot were also responsible for the instigation of the Sheffield City Region Inward Investment fund for larger projects.

The Mayor and Cabinet welcomed the reported stating that the report demonstrated yet another success story for the Borough, highlighting the successful increase in skills within the Borough’s workforce. The report clearly demonstrated the success of the scheme, and it was asked whether there was scope to increase the funds for future years. Steve Mawson, Chief Financial Officer & Assistant Director of Finance, reported that this was being looked at long term regarding the budget and if there was an appetite to see the continuation of the scheme.  Careful consideration is given to each project and difficult discussions do take place with companies, not only with regard to funding, but also with regard to design etc.  He stated that each project was looked at on its own merits, and that not all bids were automatically accepted under the scheme.  It was noted that further discussions would take place over the summer on the future of the scheme.

There were no other alternatives considered or rejected as this is a review report.