Invitees:

Kelly Beirne – CCRCD Programme Director

Cllr Andrew Morgan – Chair CCRCD Cabinet

The Programme Director CCRCD presented a report to the JOSC in respect of the effective operation of its wider Investment Fund. She explained to members that the WIF totalled £495m and comprises HM Treasury Grant Funding amounting to £375m over 20 years and Council contributions of £120m.  She advised members that the UK Competitive index was set out earlier this week and showed that Caerphilly was out of the bottom 10, however Merthyr and Blaenau Gwent were still there and this had not changed for 25 years. The City Deal has three major targets to meet – a 5% GVA increase, 25,000 new high skill jobs and leverage of £4bn additional private investment. 

The Programme Director advised that within the report there were 40 activities in accordance with the provisions of the JWA in relation to the delivery of the Cardiff Capital Region City Deal that were deliverable.

A member asked how the impacts of the CCRCD can be measured against other planned projects.

The Programme Director stated that they were unable to differentiate targets, however they can look at interventions and undertake economic impact assessments and competitive assessments so they are able to measure the impact on GVA.  The Programme Director advised that leverage was easier to calculate and relate back to the CCRCD

A member asked what the CCRCD are going to do differently to previous investments to improve impact.  The Programme Director advised that the Business Plans set out what we have to do differently and that included competing for new funds to unlock wider regeneration.  She added that installing a digital infrastructure would also maximise the benefits of the CCRCD. 

A member stated that within the plans there were no markers, targets or figures and asked how we would be able to mark ourselves

The Programme Director stated that National Government would mark us on the investment and intervention framework and there was certain criteria and targets that needed to be met.  She advised that the Framework and impacts would be set out to the Joint Cabinet on the 10 June 2019.  She added that specific figures and targets would be included in the individual business plans once individual projects had been approved by the Joint Cabinet.

The Chair of the Joint Cabinet added that the model for the CCRCD was different in that there was no set list of projects but that the funds were open for people to approach them with propositions.

A member asked what the key risks were with regards to internal resources and what was needed for the CCRCD to succeed.

The Chair of the CCRCD Joint Cabinet advised that additional resource had just been approved by the joint Cabinet and the advertising of posts had already begun. 

A member asked how the high level of social exclusion would be managed.  The Programme Director explained that the Regional Skills Partnership were exploring this through investing into targeted industry based apprenticeship schemes.  She added that whilst there was a gap currently she was positive that the gap could be closed through carefully managed recruitment process.

A member referred to the creation of expert panels to influence UK Government – in particular UKRI and Innovate UK and what the membership of these panels would look like.  The Programme Director stated that the membership would be varied in the way of Leaders, private sector experts and education experts and was hoped that they would have more influence towards funding bodies.

A member asked about the location of a new CCRCD office.  The Programme Director explained that it would be based in Tredomen in Caerphilly and they were also exploring the opportunity to co-locate at the foundry building in Newport to spread to the CCRCD presence and benefits.

A member referred to the innovation investment projects and asked for further information on it.

The Programme Director stated that they were trying to create a cluster at the Foundry and developing an apprenticeship scheme around compound semi-conductor engineering.