Agenda and draft minutes
PDF 225 KBVenue: Council Chamber, Rushcliffe Arena, Rugby Road, West Bridgford. View directions
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Declarations of Interest Minutes: There were no declarations of interest. |
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Minutes of the Meeting held on 26 March 2025 Minutes: Councillor Way raised points regarding the minutes of the previous meeting held on 26 March 2025. She said that the minutes did not include detail of the discussion about the agreed wording change for one of the recommendations but noted that the agreed wording change had been made to the recommendation. She referred to paragraph 2 of page 5 of the minutes which said that ‘it had been largely accepted by members’ and said that she did not agree with the accuracy of this statement as there had not been any show of hands to confirm acceptance.
The Chairman said that changes to the recommendations had been raised at the pre meeting briefing and the Head of Economic Growth and Property confirmed that the changes had been made.
Councillor Way confirmed that changes to the Management of Open Spaces document as discussed at the previous meeting had been made and were reflected in the document that had been presented to Cabinet.
The minutes of the meeting held on 26 March 2025, noting the above points raised, were agreed as a true record and were signed by the Chair. |
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East Midlands Freeport Report of the Director for Development and Economic Growth
Additional documents: Minutes: Mr Cooper presented the East Midlands Freeport (EMF) report and delivered a presentation to the Group which set out key elements and progress of the Freeport.
Mr Cooper explained that freeports were economic zones created under the previous government and endorsed within the Industrial Strategy of the current government. He explained that they were a partnership of public and private partners, which in the East Midlands consisted of Rushcliffe, North West Leicestershire and South Derbyshire District Councils and their respective County Councils and six private sector members who were the site owners or site developers. He said that there were three sites within the freeport, being Ratcliffe on Soar (power station) site, the East Midlands Airport Gateway Industrial Cluster around East Midlands Airport and the East Midlands Intermodal Park site near to the Toyota Plant.
Mr Cooper confirmed that the Leader of Rushcliffe Borough Council was the Council’s representative on the EMF Board and said that the funds and finance of the EMF were decided by the public sector members and that the EMF was a not for profit organisation.
Mr Cooper said that the EMF was formally established in March 2023 and that the deadline for the end of the financial benefits was September 2031.
In relation to ambition, Mr Cooper explained that it was for the sites to become low carbon industrial sites attracting inward investment rather than relocation of existing businesses within the local area, stimulating job creation, skills development and innovation and improving transport and connectivity, with an ambition to stimulate £9bn of GVA for the regional economy. He said that the local authorities involved had received government guarantee that they would not be at a detriment from the loss of projected business rates income from the sites, with any income above that going to the EMF.
In relation to progress over the past three years, Mr Cooper said that the skills delivery plan was being finalised, scoping work for a new sustainability strategy had been completed and that the innovation strategy was being prepared. He highlighted the key sectors of focus, being aerospace, automotive, advanced logistics and low carbon and energy, and the lower focus sectors of rail, food and drink, space and life sciences.
Mr Cooper said that the accountable body was currently Leicestershire Council with the intention for that to transfer to the East Midlands Combined Authority (EMCCA) to act as central body and provide more synergy for investors. He explained that the tax benefits for the sites were that companies could apply for business rates relief (up to 30 September 2031), National Insurance Contributions (NIC) relief, Stamp Duty (SDLT) relief and Enhanced Rate of Structures and Buildings Allowance (SBA).
In relation to customs benefits, Mr Cooper said that the sites provide duty flexibilities, duty exemptions, duty suspensions and a simplified import procedure. He said that the EMF had worked with the Chamber of Commerce to publicise the sites but that interest had been low so far.
In relation to the geographies of ... view the full minutes text for item 3. |
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Report of the Director for Finance and Corporate Services Minutes:
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