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City of London Corporation Regional Strategy

Report of the Director Economic Development.


The Committee considered a report of the Director of Economic Development concerning the progress of the City Corporation’s Strategy for working with regional centres.


A number of Members applauded the progress of the Strategy and spoke in favour of extending its remit. The Director of Economic Development advised that the work had also been highly welcomed by the regional centres. Early indications were that London was perceived as the gateway to international investment.


A Member pointed out that as the project became more successful, more centres would want to join it. He questioned how this would be prioritised and managed in future. The Director advised that he envisaged it being a gradual process and that he would welcome Member support in keeping focus on the most important centres, where the City Corporation would have the strongest impact. The Chairman emphasised that the City Corporation would be working with key partners such as TCUK, CBI, Bank of England etc.


RESOLVED – That the following be approved:-


1.         the continued development engagement with the three pilot regions (Belfast / Northern Ireland (NI), Edinburgh / Scotland and Manchester);


2.         the City Corporation becoming a partner member of Scottish Financial Enterprise (SFE) for a trial period of one-year at a cost of £11,200 in 2018/19 to further strengthen the Edinburgh and Scotland engagement;


3.         the partnership programme being expanded by adding three more selected UK city regions, Cardiff, Birmingham and Leeds;


4.         the creation of a one-year fixed term contract account manager post at the cost of £52,200 to cover the substantial increase in additional workload, noting that a progress report would be submitted in due course; and


5.         the membership cost (£11,200) of the SFE and the cost of the additional fixed term post required to cover the work of extending partnership programme (£52,200) being met from the Policy Initiatives Fund for 2018/19, categorised under Promoting the City and charged to City’s Cash.


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