Decision details

10.1

The Executive Director, Place submitted a report in relation to the Keep Sheffield Working Fund.

10.2

RESOLVED: That the Cabinet Member:-

(a)

notes the economic impact and outcomes achieved through the Keep Sheffield Working Fund and its contribution toward the Competitive City strategic outcome;

(b)

notes the financial implications contained in this report; and

(c)

requests that consideration is given to the lessons learned from the fund in terms of the impact a locally managed, flexible fund can have on local growth and the implications this has for future innovation funds;

10.3

Reasons for Decision

10.3.1

The objective of the Keep Sheffield Working Fund was to help the Council do all it can to support activities that will help create jobs and drive the local economy forward. The success of the projects supported by the funds has demonstrated the value of a focused but flexible programme of activity which can invest in short term growth initiatives with long term impact.

10.4

Alternatives Considered and Rejected

10.4.1

The option of using the £800,000 set aside for the Keep Sheffield Working Fund to support other activities has been considered. However, it was felt that investing in activities to create jobs and drive the local economy forward is essential to maintaining the City’s competitiveness, as well as the prosperity and wellbeing of individuals and communities.

10.5

Any Interest Declared or Dispensation Granted

None

10.6

Reason for Exemption if Public/Press Excluded During Consideration

None

10.7

Respective Director Responsible for Implementation

Simon Green, Executive Director, Place

10.8

Relevant Scrutiny and Policy Development Committee If Decision Called In

Economic and Environmental Wellbeing