Agenda item

This annual report provides an account of the role of the Portfolio Holder for Economic and Social Regeneration and Inward investment. It details their ambitions for their areas of responsibility, how they have and will undertake political challenge and leadership and what their priorities and ambitions are for the year ahead.

Discussion:

The Committee received an overview of progress made on the areas within the scope of the Portfolio Holder for Economic and Social Regeneration and Inward Investment, Councillor Mahil, which fell within the remit of this Committee.

The Portfolio Holder responded to Members’ questions and comments as follows:

Strengths and weaknesses in attracting investment – The Portfolio Holder explained that Medway had many natural advantages with the river, gateway to London and power generation opportunities on the Peninsula. Food production, food growth, research led growth, Artificial Intelligence (AI) and the creative sector all had a role to play in attracting investment. The skills capacity, good connectivity and the high proportion of self-led businesses were also highlighted. Challenges noted included transport infrastructure and the lack of larger high quality hotel accommodation and events centres.

Businesses visited – The Portfolio Holder reported that he made visits on a weekly basis and had visited numerous businesses as well as attending the Medway Business Meet up and Chamber of Commerce. The Committee was informed that knowledge was being accrued from attending various forums and through the Medway Business Survey which was currently live.

Feedback from Business for Medway Board – The Committee was informed that approximately 20 to 25 individuals had attended, and this had led to a further meeting with the owner of Veetee Rice regarding business needs. Officers were exploring how the Board could become more of a task and finish group.

Rainham reimagined – The Portfolio Holder explained that this involved engaging with local traders and residents to gather tacit knowledge to help inform local plans.

Jobs generated by AI – The Committee was informed that whilst the Portfolio Holder had some reservations about AI, Medway needed to be best placed to take advantage of any opportunities, and it could change the way we thought and what could be done, but it was unclear how many jobs it would create.

Increased unemployment rate – It was reported that rising unemployment was both a national and local issue and that focused investment and connect to work initiatives were targeted at the harder to deal with sectors of the unemployed, but there was no single solution to resolve this issue.

Benefits of the Shared Prosperity Fund – The Committee was informed that the team had given careful thought about how to deliver the fund in the most impactful way through micro grants and the impacts were meticulously recorded. Members felt that a future report to the Committee would be useful and Members were invited to visit the team to see the good work that they did.

Hopewell Drive Business Park – The Committee was informed that the Portfolio Holder was happy to meet with tenants if they had issues with their rent or to explore whether any grants were available to assist them.

Strood Town Centre – The Committee discussed the need for balanced services and growth across Medway and was informed that Market Managers had been invested in to grow the markets and explore further opportunities.

Lower Thames Crossing – Members requested information on the impact of the crossing on traffic and transport in Medway and discussed job opportunities from the construction of the crossing.

Mentoring schemes for people with disabilities and long term health conditions - The Portfolio Holder did not have details to hand regarding schemes in place but offered to provide further information outside of the meeting.

Key Performance Indicators – Members felt data on key areas would be helpful and the Portfolio Holder agreed to explore this further.

Decision:

a)        The Committee noted the report and requested that key performance indicators be explored further.

b)        The Committee requested a briefing at a future Committee regarding the impact of the Lower Thames Crossing on traffic and transport in Medway.

c)         The Committee requested a future report on the Shared Prosperity Fund and outcomes.