Agenda item - Greater Brighton Inward Investment & Export Strategy

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Agenda item

Greater Brighton Inward Investment & Export Strategy

Report of the Chair, Greater Brighton Officer Programme Board

Decision:

1)           That the Board agrees the Inward Investment & Export Strategy, noting its two key proposals;

 

(a)  Creation of a new Trade and Investment Team, subject to funding being identified, that would focus on producing a strategic assessment of the economic segments within the Greater Brighton area; using this assessment to identify areas that would produce the greatest opportunities to attract Foreign Direct Investment – then focusing on attracting new investment to Greater Brighton, and on supporting City Region Businesses to grow and trade internationally

 

(b)  Delivery of a physical and high-profile hub for Greater Brighton trade and inward investment activities, with potential ‘satellite’ hubs across the City Region.

 

2)           That the Board agrees the recommended next step, which will be to commence work on preparing a detailed working proposal around how to take forward the two key recommendations.  The detailed proposal would be presented back to the Board for approval at a subsequent meeting.

Minutes:

33.1      The Board considered a report of the Chair, Greater Brighton Officer Programme Board that set out the Greater Brighton Inward Investment & Export Strategy as requested and agreed by the Board in April 2017. The report was accompanied by a presentation from a representative of Regeneris, the appointed consultants for the work.

 

33.2      Councillor Janio moved a motion to amend recommendation 2.1 as shown in bold italics below:

 

2.1   That the Board agrees the Inward Investment & Export Strategy, noting its two key proposals;

 

(a)   Creation of a new Trade and Investment Team, subject to funding being identified, that would focus on producing a strategic assessment of the economic segments within the Greater Brighton area; using this assessment to identify areas that would produce the greatest opportunities to attract Foreign Direct Investment – then focusing on attracting new investment to Greater Brighton, and on supporting City Region Businesses to grow and trade internationally

 

33.3      Introducing the motion, Councillor Janio explained that whilst the Regeneris report was thorough, the objectives to take forward the work were not fleshed out and the motion would enable a clear vision on future direction and a specific remit.

 

33.4      Councillor Humphreys formally seconded the motion.

 

33.5      Andrew Swayne stated his support for the motion adding that the presentation had been a helpful guide.

 

33.6      Alison Addy stated that the Gatwick Growth Board had conducted a thorough study into trade and investment relating to the airport and the wider region and the information collated could certainly be shared.

 

33.7      Councillor Morgan stated that with 12 months until the implementation of the EU withdrawal agreement and other city regions establishing similar investment and export bodies, it was vitally important for the Board to establish its own offer without delay.

 

33.8      Prof. Baxter welcomed the timing of the initiative supplementing that the University of Brighton (UoB) had its own international strategy relating to student recruitment and partnerships and that could also be shared.

 

33.9      Councillor Wall welcomed the motion adding that it was highly important to understand the role of the region going forward and the avoid duplication wherever possible to ensure funding was spent diligently and effectively. Councillor Wall noted that investment would likely required from each partner body and it was very important that the strengths of the different areas were clearly signposted in the region’s joint message and the collective voice of the LEP was built in to that. Councillor Wall expressed his view that five years on from the Board’s inception, it was still unclear on its vision and a greater understanding of that would be essential moving forward.

 

33.10   The Chair then put the motion to the vote that passed.

 

33.11   The Chair then put the recommendations, as amended, to the vote that passed.

 

33.12   RESOLVED-

 

1)           That the Board agrees the Inward Investment & Export Strategy, noting its two key proposals;

 

(a)  Creation of a new Trade and Investment Team, subject to funding being identified, that would focus on producing a strategic assessment of the economic segments within the Greater Brighton area; using this assessment to identify areas that would produce the greatest opportunities to attract Foreign Direct Investment – then focusing on attracting new investment to Greater Brighton, and on supporting City Region Businesses to grow and trade internationally

 

(b)  Delivery of a physical and high-profile hub for Greater Brighton trade and inward investment activities, with potential ‘satellite’ hubs across the City Region.

 

2)           That the Board agrees the recommended next step, which will be to commence work on preparing a detailed working proposal around how to take forward the two key recommendations.  The detailed proposal would be presented back to the Board for approval at a subsequent meeting.

Supporting documents:

 


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