Members considered a report on two bids to the Government’s Regional Growth Fund.
The current 4th round of RGF closed on 20th March, and bids would be appraised by an expert panel, chaired by Lord Heseltine, which would advise Ministers on which bids it believed gave the best value for money to the taxpayer.
Cheshire East Council had submitted two bids:
§ ‘Cheshire East – Driving the Engine of the North’ - an employment sites/premises development programme seeking funding of £7.38m from RGF to support enabling works for commercial development that could be brought forward in the next two years, reflecting already strong demand from existing, growing local businesses. The bid identified eight key sites, five of which were in Council ownership, with three being privately owned. Two reserve sites were also identified. If secured, the funding would facilitate the delivery of 4,777 jobs and the safeguarding of a further 555.
§ ‘Crewe Deep Geothermal energy centre’ - a proposed Joint Venture project seeking £6.4m towards a new centre that would provide renewable heat, and potentially power, for local use to include new housing developments.
RESOLVED
That Cabinet
(1) approves the submission of two Council-led bids to the Government’s Regional Growth Fund, in support of:
§ Cheshire East – Driving the Engine of the North; (£7.38m RGF bid)
§ Crewe Deep Geothermal energy centre (£6.4m RGF bid)
(2) agrees to actively support these bids after submission, through Cabinet Members and local MPs, to increase awareness of the bids and their potential to deliver new jobs quickly, representing an excellent return on Government investment.