To seek approval to apply for and accept funding under the European Regional Development Fund (ERDF) Priority 4, Strategic Objective Four (P4SO4) (to increase employment through investments in prioritised local or regional infrastructure supporting a regional or urban economic strategy).

The Corporate Director Communities sought approval to to submit a project proposal for funding under the West Wales and the Valleys ERDF Priority 4, Strategic Objective Four to increase employment through investments in prioritised local or regional infrastructure, supporting a regional or urban economic strategy.

He reported that following direction from the South East Wales Directors of Environment and Regeneration (SEWDER) and further endorsement by the Cardiff Capital Region (CCR) Programme Board, six neighbouring authorities are working together to  develop a regional proposal for the funding available under P4SO4.  Any proposals submitted under the programme would take into account other strategic work taking place across the region, and should also link with relevant regional and national strategies and the recent report by the Cardiff Capital Region City Deal Growth and Competitiveness Commission.

The Corporate Director Communities reported that the project aimed toassist in the delivery of an integrated approach to targeted investment, which can help to support Small to Medium Enterprise (SME) growth, creation of microenterprise hubs and overall increase employment opportunities.  He stated that an integrated regional approach would be taken and each Authority will develop its prioritised action based on those aspects of delivery it considered most appropriate.  It was also recognised that infrastructure alone would not be sufficient to achieve the outcomes associated with this specific objective and it was proposed that as part of the operation there would be a range of activities which support the development of enterprise.  He stated that for the County Borough, it was proposed that the focus for investment would be primarily on the Science Park and the Innovation Centre but also include other aspects of the portfolio where relevant.  It was proposed that the funding opportunity could support and complement the existing stock of employment sites in the area.  He also stated that there is demand within the County Borough for small / micro enterprise space which cannot currently be fulfilled.  The increased economic impact would therefore help to support building relationships and confidence with the private sector to invest within the region. 

The Corporate Director Communities reported that Blaenau Gwent County Borough Council had indicated a willingness to assume the role of Lead Authority for the purposes of coordinating and preparing the Business Plan for the Project.

RESOLVED:            That Cabinet: 

(1)             Supported the proposal that Blaenau Gwent assumes the role of Lead Authority for the purposes of coordinating and preparing the business plan for the Project.

(2)             Authorised the Corporate Director – Communities, to develop the detailed business plan for the Project, including the match-funding requirement, focusing on the Bridgend Science Park and Innovation Centre (but also including other aspects of the portfolio where relevant).

Authorised the Corporate Director – Communities, in consultation with the S151 Officer, to submit the business plan based on the confirmed level of match funding at the date of submission and accept the resulting funding offer in line with the Council’s Grant policy, and subject to being satisfied that any grant conditions attached to the offer of funding are acceptable.