a
New Anglia Local Enterprise Partnership
Investment Appraisal Committee
Wednesday 24th November 2021
TEAMS Meeting
9am to 9:45am
Agenda
No.
Item
1.
Welcome
Main Agenda
2.
Apologies
3.
Declarations of Interest
4.
Minutes of previous meeting - 22nd September 2021
5.
Horizon Paper and GPF repayments - Confidential
Reporting: Growing Business Fund
6,
Growing Business Fund Programme Performance Report and GBF, SGS and
6a-c
GTI grant award appendices
Growing Business Fund - Grants by district supported by Growth Deal
6d
Confidential
Reporting: Resilience and Recovery Fund
Resilience and Recovery Programme Performance Report and Confidential
7, 7a
grant award report
Reporting: Innovative Projects Fund Calls 1 &2
8a,8b
IPF Calls 1 & 2 Programme Performance Report and IPF 2 project RAG rating
8c
appendix
Items for discussion
9.
Growing Places Fund Investment update, One Farm- Confidential
Other
10.
Any Other Business
1
Committee Members
Cllr David Ellesmere
Ipswich Borough Council
Andrew Proctor
Norfolk County Council
Sandy Ruddock
Scarlett and Mustard
Alan Waters
Norwich City Council
Dominic Keen
High Growth Robotics
Kathy Atkinson
Kettle Foods Ltd
Martin Williams
Williams Business Advisory
Exec Members
Rosanne Wijnberg
New Anglia LEP
Chris Dashper
New Anglia LEP
Iain Dunnett
New Anglia LEP
Date and time of next meeting: 7th December 2021. 10am
Venue: TEAMS Meeting
2
New Anglia Investment Appraisal Committee
Confidential Meeting Minutes (Unconfirmed)
22nd September 2021
Present:
Committee Members
Kathy Atkinson (KA)
Kettle Foods
David Ellesmere (DE)
Ipswich Borough Council
Dominic Keen (DK)
High Growth Robotics
Andrew Proctor (AP)
Norfolk County Council
Alan Waters (AW)
Norwich City Council
Martin Williams (MW)
Independent IAC Member
In Attendance
Rosanne Wijnberg (RW)
New Anglia LEP
Chris Dashper (CD)
New Anglia LEP
Helen Wilton (HW)
New Anglia LEP
Melanie Richardson (MR)
New Anglia LEP
ACTIONS
None
1
Welcome from the Chair
David Ellesmere (DE) welcomed everyone to the meeting.
2
Apologies
None
3
Declarations of Interest
Item 9 - Suffolk Inclusive Growth Investment Fund - David Ellesmere noted an interest in those projects
sponsored by IBC.
5
Minutes of previous meeting 21st July 2021
The minutes of the last meeting were agreed as accurate.
5
Horizon Paper and GPF Repayments - Confidential
The Committee agreed:
• To note the content of the report
6,
Growing Business Fund Programme Performance Report and GBF, SGS and GTI and grant
6d
award appendices
Chris Dashper (CD) reviewed the reports as included in the pack and noted the details were accurate to
Page 1 of 2
the end of July.
Funding has been added to the pot giving a budget of around £4m and the funds must be spent by the
end of March 2022.
£1.2m is not yet committed with applications worth £600k going through due diligence.
SGS - Virtually all monies from the original fund have been spent but the top up funding is being finalised
and then the fund will restart running to the summer of 2023. The scheme will be promoted again when
more confidence is achieved with MHCLG.
The Committee agreed:
• To note the content of the report
7
Resilience and Recovery Programme Performance Report
CD confirmed that enquiries are still being received but are slowing and some new enquiries are going to
the GBF fund. All funds will be used by current enquiries.
Feedback has been very positive with significant support having been provided to businesses.
The Committee agreed:
• To note the content of the report
8
IPF Calls 1 & 2 Programme Performance Report and IPF 2 project RAG rating appendix
CD confirmed that all projects are green as they catch up with deliveries following the pandemic
The Committee agreed:
• To note the content of the report
9
Suffolk Inclusive Growth Investment Fund- Round 4 projects for approval - Confidential
DE declared in interest in those projects sponsored by Ipswich Borough Council and left the meeting for
those items.
The Committee agreed:
• To note the content of the report
• To ratify the funding decisions from the Suffolk Growth Management Team
10
AOB
None
Page 2 of 2
Growing Business Fund Performance Report - September 2021
Programme Overview - What is the Growing Business Fund?
Launched in April 2013, the Growing Business Fund provides grants for businesses to enable growth, an increase productivity and job creation.
Capital grants are available between £25,000 and £250,000 are provided at up to 20% of project costs for SMEs.
Funding for the Growing Business Fund is provided on an annual basis by the LEP, this year we began with £2.15m, and has been further topped up to £3,939,883
The fund is accessed through the New Anglia Growth Hub with Due Diligence undertaken by Finance East and agreed by a GBF panel which meets monthly as required .
What is the overall Programme Status?
Finance
Green
This financial year the scheme has defrayed to date £1,369,328 and there is a commitment of £1,428,235
Outputs
Green
Since its inception the Growing Business Fund has created 2,572 jobs and this year a further 111 full time jobs to be created
Delivery
Green
Pipeline is now buoyant, with interest in some larger size grant applications and additional panel meetings taking place to consider applications quickly
What are our key updates?
Participant SMEs of the Scale Up New Anglia programme are being offered a range of support including applications to GBF (where appropriate).
This is still the LEP flagship grant scheme and continues attracting interest despite COVID-19, we are seeing confidence in that some businesses submitting grant applications.
There is a buoyant pipeline of medium size businesses with 50 ish staff who are planning their growth over the next few months and can complete their grant draw down before the end of March 2022
GBF has been really successful, its still the main growth grant available to businesses in Suffolk and Norfolk
Covid and EU Exit has affectd some businesses who are actively growing and seizing every opportunity to expand including securing new premises and recruiting additional staff and these we can su
What is our financial position?
Financials (£ million)
Year
2013 to 2016
2016/2017
2017/2018
2018/2019
2019/2020
2020/2021
2021/2022
Total
Profile Spend (£m)
£12.000
£3.536
£3.050
£5.096
£4.121
£2.790
£3.939
£34.532
Actual Spend (£m)
£11.999
£3.001
£3.049
£4.764
£2.533
£2.815
£0.000
£28.161
Remaining Spend
£0.001
£0.535
£0.001
£0.331
£1.588
-£0.025
£3.939
£6.370
(£m)
2020/2021 Expenditure Profile
2
1
0
Q1-21/22
Q2-21/22
Q3-21/22
Q4-21/22
Quarterly Forecast
0.701664
0.704517
1.404517
0.604517
Quarterly Spend
0.701664
0.667664
0
0
Variance
0
0.036853
1.404517
0.604517
What is our contribution to the Economic Strategy?
Actual to end
Monthly
Outputs April 2021 to March 2022
Target
of March
Shortfall
Notes
Change
2022
Value of grants approved
£0
£0
£0
Value of private sector match approved
£0
£0
£0
Number of New Jobs to be Created
0.0
0.0
0
Value of grants claimed
£3,939,883
£0
£0
£3,939,883
Private sector match funding drawn down
£8,600,000
£0
£0
£8,600,000
Number of New Jobs Created
107
0.0
0.0
107
What is the project status?
The following table shows grants approved by sector since the start of the programme in 2013/14
Number of
Jobs to
Projects
Grants
Private
Total Project
be
Sector
Approved
Approved
Match
Costs
Created
A - Agriculture, Forestry and Fishing
3
£235,899
£1,018,543
£1,254,442
58.0
B - Mining and Quarrying
1
£100,000
£1,654,600
£1,754,600
10.0
C - Manufacturing
150
£17,096,262
£117,778,157
£134,874,419
1775.0
E - Water supply, sewerage, waste management and remediation activities
6
£520,000
£2,166,000
£2,686,000
38.5
F - Construction
23
£2,395,631
£14,518,518
£16,914,149
245.5
G - Wholesale and retail trade; repair of motor vehicles and motorcycles
30
£3,170,677
£55,251,088
£58,421,765
406.5
H - Transportation and Storage
10
£1,002,601
£6,016,625
£7,019,226
114.0
I - Accommodation and Food Service Activities
5
£372,000
£2,342,138
£2,714,138
45.5
J - Information and Communication
11
£753,200
£3,792,342
£4,545,542
76.0
K - Financial and Insurance Activities
1
£30,000
£79,425
£109,425
3.0
L - Real Estate Activities
1
£100,000
£232,500
£345,000
10.0
M - Professional, Scientific and Technical Activities
26
£3,207,666
£20,880,393
£24,088,059
313.6
N - Administrative and Support Service Activities
20
£1,660,100
£9,434,097
£11,094,197
200.0
P - Education
1
£20,000
£102,191
£122,191
4.0
Q - Human Health and Social Work Activities
1
£31,580
£126,320
£157,900
3.5
R - Arts, Entertainment and Recreation
8
£502,921
£3,159,776
£3,662,697
55.5
S - Other Service Activities
2
£320,000
£4,737,413
£5,057,413
32.0
Total
299
£31,518,537
£243,290,126
£274,821,163
3,390.6
What are the next steps?
The LEP is continuing to work with delivery partners, to ensure that the scheme can be accessed by businesses to facilitate growth during the COVID-19 Pandemic.
As we are nearing the end of this fund, we are closely monitoring the applications and claims coming forward to ensure they can complete on time, 31st March 2022.
9
New Anglia LEP
Growing Business Fund
Grant Approvals - April 2021 to March 2022
Approval
Grant
Company Name
Reason for Support
Date
AwardedBusiness Size
Apr-21
No approvals in April
May-21
Flexion Global Ltd
£194,700
Small Capital investment to support business growth
May-21
Two Magpies Food Company Ltd
£44,000
Small Capital investment to support business growth
May-21
Broadland Radiators & Heat Exchangers Ltd
£25,800
Small Capital investment to support business growth
Jun-21
The Essentials Company
£28,369
Small Capital investment to support business growth
Jun-21
Weco Engineering Ltd
£60,000
Small Capital investment to support business growth
Jun-21
Albert Bartlett Ltd
£500,000
Large Capital investment to support business growth
Jul-21
Mirus Aircraft Seating Ltd (3)
£250,000
Small Capital investment to support business growth
Jul-21
Lockwood Packaging Ltd (2)
£96,300
Small Capital investment to support business growth
Aug-21
No approvals in August
Sep-21
Advanced Engineering (UK) Ltd (2)
£109,200
Small Capital investment to support business growth
Sep-21
Eurowork Space Ltd
£79,866
Small Capital investment to support business growth
Sep-21
Universal Control Equipment Ltd
£40,000
Medium Capital investment to support business growth
Oct-21
Thompson Packaging Ltd
£208,727
Small Capital investment to support business growth
Total for Growing Business Fund
£1,636,962
10
Small Grant Scheme
Grant Approvals April 2021 to March 2022
Date
Grant
Business
Company Name
Reason for Support
Approved
Awarded
Size
Apr-21
Plantscape Tree Services Ltd
£7,951
Micro Capital investment to support business growth
Apr-21
East Anglian Sea School Ltd
£4,000
Micro Capital investment to support business growth
Apr-21
Freeclix Ltd
£10,508
Micro Capital investment to support business growth
Apr-21
Travel Photographer of the Year Ltd (2)
£2,372
Micro Capital and revenue investment to support business growth
Apr-21
Synergy15 Ltd
£3,520
Micro Capital investment to support business growth
May-21
No approvals in May
Jun-21
Proteome Ltd
£2,616
Micro Capital investment to support business growth
Jun-21
Ethnic Fusion Fine Foods Ltd
£2,115
Micro Capital investment to support business growth
Jun-21
Van Driel Engineering Ltd
£5,503
Small Capital investment to support business growth
Jul-21
Resound Sound Ltd
£2,260
Micro Capital investment to support business growth
Jul-21
SwitchboardFREE Ltd
£1,585
Small Capital investment to support business growth
Jul-21
Titchmarsh & Goodwin Fine Furniture Ltd (3)
£2,611
small Capital investment to support business growth
Jul-21
Acorn Target Systems Ltd
£2,177
Micro Capital investment to support business growth
Jul-21
ADP Ltd
£2,349
Small Capital investment to support business growth
Jul-21
Geotekk Ltd
£2,869
Micro Capital investment to support business growth
Aug-21
Olympic Construction (Norfolk) Limited
£19,640
Micro Capital investment to support business growth
Sep-21
No approvals in September
Oct-21
No approvals in October
Total for Small Grant Scheme
£72,076
11
New Anglia LEP
Growth Through Innovation
Grant Approvals - April 2021 to March 2022
Approval
Grant
Business
Company Name
Reason for Support
Date
Awarded
Size
Apr-21
PG Products Ltd
£16,048
Small Revenue investment to support R&D or Innovation
Apr-21
Raptor Aerospace Ltd
£25,000
Micro Capital and Revenue investment to support R&D or Innovation
Apr-21
UroPharma Ltd
£12,065
Micro Revenue investment to support R&D or Innovation
Apr-21
FamilyCarersNet Ltd
£24,750
Micro Revenue investment to support R&D or Innovation
Apr-21
Bed-Down LLP
£22,016
Small Revenue investment to support R&D or Innovation
Apr-21
Make An impact CIC
£8,100
Micro Revenue investment to support R&D or Innovation
May-21
IKON Training Limited
£8,000
Small Revenue investment to support R&D or Innovation
Jun-21
We Love Pets
£8,500
Micro Revenue investment to support R&D or Innovation
Jul-21
No approvals in July
Aug-21
No approvals in August
Sep-21
RSR Technology Ltd
£12,276
Micro Revenue investment to support R&D or Innovation
Oct-21
No approvals in October
Total for Growth Through innovation
£136,755
12
Business Resilience and Recovery Programme
Programme Overview - What is the Business Resilience and Recovery Programme.
The Business Resilience and Recovery Scheme provides support to businesses in Norfolk and Suffolk that have been affected by the Covid-19 Coronavirus and are looking at ways to
recover and strengthen their business performance. Companies applying under the scheme can apply for a 50% grant towards capital costs involved in initial resilience and future recovery
of their business. A grant of £25,000 up to a maximum of £50,000 is available to support projects.
Figures reflect the period to 05/11/2021
What is the Overall Programme Status?
The Business Resilience and Recovery scheme has supported 144 businesses to date, (awarding £5,635,216).
134 businesses have received initial
Overall:
Green
payments (£2,553,583) and 113 have had their final payments (£2,236,068). 3 businesses have withdrawn from the scheme (the 'businesses
supported' figure accounts for this).
The first tranche of funding for the programme (from the LGF) is now fully committed. Expenditure of the LGF was due by the end of the calendar
Delivery:
Green
year (LGF - £3,500,000). The programme has now started allocating funds from the Get Building Fund allocation (£2,623,680).
£400,000 was transferred to GBF in quarter 2. £5,635,216 has been awarded to 144 projects, representing 98.45% of the total programme budget.
Spend:
Green
£4,789,651 has been paid out to 134 businesses (113 of which have had their final payments). NB: Not every business receives an upfront payment.
£ 5,635,216 has been awarded to 144 projects. The has enabled 144 businesses and their associated supply chains to start the journey to recover
Outputs:
Green
from the consequences of COVID-19 restrictions. 235 FTEs have been created and 3285.5 FTEs have been safeguarded.
What are our Key Updates?
•The Business Resilience and Recovery Scheme was launched on Monday 4th May and the scheme has proved popular with several enquiries already being handled, developed, and
progressed through the Growth Hub.
•144 businesses have now been supported, the most recent being ‘D C Engineering (East Anglia) Ltd’, awarded £41,880.
•Total R&R grant value awarded to date is £5,635,216 with a total projects value of £14,767,751. Private match of £9,132,535 has been committed. £4,789,651 has been paid out to 134
businesses (113 have had their final payments).
•Unallocated funding (including underspend of £99,326) is £187,790.
•Investment in these 144 businesses will create 235 FTEs and safeguard 3285.5.
•Of the 144 businesses supported, 87 are in Norfolk (£3,375,329) and 57 are in Suffolk (£2,259,887).
•1 business application is in the pipeline with a total grant ask of £41,850, applications are being monitored and will be approved on a first come first served basis.
What is our Financial Position?
Financials (£ million)
Forecast
Actual
Actual
Actual
Actual
Actual
Actual
Actual
Financial Year
2020/21
Qtr 1 2020/21
Qtr 2 2020/21
Qtr 3 2020/21
Qtr 4 2020/21
Qtr 1 2021/22
Qtr 2 Actual
Qtr 3 Actual
Brought Forward
0
0
LEP Allocation
£3,500,000.00
£3,500,000.00
£2,709,864.00
£3,144,185.00
£1,808,546.00
£1,330,036.00
£382,070.00
£94,344.00
Spend [Act/Fcst]
£3,500,000.00
£290,639.00
£1,047,528.00
£1,375,853.00
£691,832.00
£699,315.00
£595,848.00
£88,635.00
Committed
£3,500,000.00
£790,136.00
£2,189,359.00
£1,335,639.00
£478,510.00
£547,966.00
£287,726.00
£11,880.00
Carried forward
£3,500,000.00
£2,709,864.00
£520,505.00
£1,808,546.00
£1,330,036.00
£782,070.00
£94,344.00
£82,464.00
This figure combines the balance of the
LGF (£520,505) and the additional
Business Resilience and Recovery Programme
£2,623,680 from the Get Building Fund
£4,000,000.00
£3,000,000.00
£2,000,000.00
£1,000,000.00
£0.00
Q1-20/21
Q2-20/21
Q3-20/21
Q4-20/21
Q1- 21/22
Q2- 21/22
Axis Title
Qtrly awarded
Qtrly Claims
R&R Budget Allocated
What is our contribution to the Economic Strategy?
Quarter/ year:
Outputs - cumulative from 04/05/2020 to 05/11/2021
2020/21
QTR 1 2021/22
QTR 2 2021/22
QTR 3 2021/22
Total
Number of Direct Full-Time Jobs Created
201
15
21
-2
235
Number of Direct Full-Time Jobs Safeguarded
2846.5
300
174
-35.5
3,285
Private Match (£)
£7,455,396.09
£1,081,297.51
£600,659.00
-£4,818.00
£9,132,534.60
Public Match (£)
£0.00
£0.00
£0.00
Commercial Floor Space (SqM)
TBC
TBC
TBC
What is the Project Delivery Status?
LGF Committed = £3,542,389 (Allocating grant awards in full to one fund means that the total exceeds £3,500,000 LGF allocation slightly).
•91 businesses supported in total
Getting Building Fund Committed - £2,092,827
•53 businesses supported in total
What are the Next Steps?
Qtr 2- The Growth Hub will continue to signpost, develop and progress R&R applications to the Finance East's Due Diligence Team. Regular Team meetings are held to review processes
and suggest improvements to the scheme and its wider dissemination and take up.
17
Business Resilience & Recovery Scheme (£25,000 - £50,000 grants)
Statistics for the period of April 2020 - November 2021
Awarded Grants Value (£) - Norfolk
Awarded Grants Value (£) - Suffolk
940,578
Breckland
647,665
255,956
372,021
Babergh
Norwich
Ipswich
Broadland
505,673
495,190
South Norfolk
East Suffolk
North Norfolk
551,543
West Suffolk
377,432
177,210
Great Yarmouth
Mid Suffolk
Kings Lynn & West
246,808490,446
574,694
Norfolk
Private Investment (£) - Norfolk
Private Investment (£) -
Suffolk
Breckland
1,119,098
388,928
1,407,782
Norwich
895,563
Babergh
Broadland
Ipswich
818,819
South Norfolk
East Suffolk
980,866
North Norfolk
308,549
450,984
West Suffolk
Great Yarmouth
759,750
Mid Suffolk
Kings Lynn & West
778,680
944,756
278,761
Norfolk
Number of grants awarded - Norfolk
Number of grants awarded - Suffolk
16
Breckland
6
10
24
Norwich
Babergh
Broadland
12
Ipswich
13
South Norfolk
East Suffolk
North Norfolk
14
4
West Suffolk
Great Yarmouth
12
10
Mid Suffolk
Kings Lynn & West
8
15
Norfolk
Jobs to be created - Norfolk
Jobs to be created - Suffolk
1.0
21.0
Breckland
32.0
Norwich
Babergh
3.0
1.0
Broadland
12.0
Ipswich
15.0
34.0
South Norfolk
East Suffolk
North Norfolk
9.0
West Suffolk
Great Yarmouth
10.0
86.0
Kings Lynn &
Mid Suffolk
West Norfolk
11.0
Jobs Sustained - Norfolk
Jobs Sustained - Suffolk
Breckland
382.0
231.4
83.0
Norwich
Babergh
Broadland
792.0
205.6
310.5
Ipswich
South Norfolk
East Suffolk
North Norfolk
303.0
140.0
West Suffolk
103.0
Great Yarmouth
248
Kings Lynn &
Mid Suffolk
135.0
West Norfolk
352.0
18
New Products to be created - Norfolk
New Products to be created - Suffolk
6
Breckland
3
Babergh
6
10
Norwich
1
Ipswich
Broadland
5
South Norfolk
East Suffolk
5
North Norfolk
2
6
West Suffolk
0
Great Yarmouth
Kings Lynn &
Mid Suffolk
8
8
West Norfolk
BR&R Grants Awarded
Sum of
Sum of
Sum of
Sum of
Sum of Grant
Sum of Private Sum of Total
FTE
New
Project
FTE
Awarded
Match
Project Cost
Sustain
product to
Approved Created
Row Labels
ed be created
Norfolk
Breckland
647,665
1,119,098
1,766,763
16
32.0
382.0
6
Norwich
495,190
980,866
1,476,056
13
86.0
205.6
1
Broadland
490,446
778,680
1,269,126
12
10.0
140.0
5
South Norfolk
246,808
278,761
525,569
8
9.0
248
8
North Norfolk
377,432
450,984
828,416
10
34.0
135.0
2
Great Yarmouth
177,210
308,549
485,759
4
1.0
103.0
0
Kings Lynn & West Norfolk
940,578
1,407,782
2,348,360
24
21.0
792.0
10
Norfolk Total
3,375,329
5,324,719
8,700,048
87
193.0
2005.6
32
Suffolk
Babergh
372,021
895,563
1,267,584
10
3.0
231.4
6
Ipswich
551,543
759,750
1,311,293
14
12.0
303.0
6
East Suffolk
574,694
944,756
1,519,450
15
11.0
352.0
8
West Suffolk
505,673
818,819
1,324,492
12
15.0
310.5
5
Mid Suffolk
255,956
388,928
644,884
6
1.0
83.0
3
Suffolk Total
2,259,887
3,807,815
6,067,702
57
42.0
1279.9
28
(blank)
(blank)
3542389
5051858.5
8594247.5
0
0.0
0
2
(blank) Total
3542389
5051858.5
8594247.5
0
0.0
0
2
Grand Total
9,177,605
14,184,393
23,361,998
144
235.0
3285.5
62
Norfolk Total
3,375,329
5,324,719
8,700,048
87
193
2,006
32
Suffolk Total
2,259,887
3,807,815
6,067,702
57
42
1,280
28
Total
5,635,216
9,132,535
14,767,751
144
235
3,286
60
Grant Awarded Value (£)
Private Investment(£)
Norfolk Total
Norfolk Total
Suffolk Total
Suffolk Total
Suffolk Total
Suffolk Total
40%
42%
Norfolk Total
Norfolk Total
60%
58%
Number of grants awarded
Number of Jobs to be created
Norfolk Total
Suffolk Total
Norfolk Total
18%
Suffolk Total
Suffolk Total
Suffolk Total
40%
Norfolk Total
60%
Norfolk Total
82%
19
Innovative Projects Fund - 2018 Projects Call
Programme Overview - What is the Innovative Projects Fund
The Innovative Projects Fund is a revenue grant programme that provides funding towards innovative projects to support the delivery of the themes and activities identified in the
Economic and Local Industrial Strategies. The first call of the Innovative Projects Fund was made in October 2018 with a remit to facilitate innovative projects supporting economic
growth and the delivery of the Economic Strategy utilising revenue from the Enterprise Zone Pot C.
What is the Overall Programme Status?
Overall:
Green
7 out of the 7 projects have Offer Letters.
Delivery:
Green
5 out of 7 projects are now in their delivery phase. The Ipswich Cornhil and Visit East Of England Projects have been completed.
Profiled Spend to the end of 2021/22 Quarter 3 is £438,865. Actual spend to date is £311,000 further claim payments with a total value of £98,149 are pending
Spend:
Green
(NUA and GYBC).
Outputs:
Green
See outputs table below.
What are our Key Updates?
There are 7 projects under the 2018 call of the Innovative Projects Fund with a combined allocation and commitment of £539,531.
The value of claims for the first year (2019/20) was £139,951.
The value of claims for the second year (2020/21) was £91,362.82
Actual Spend to date is £311,000 (57.64%).
£79,416 has been claimed so far in this financial year. The total project spend to date is £728,121.
Public match funding of £284,180 and Private match funding of £132,941 has been recorded.
What is our Financial Position?
Financials (£ million)
Forecast
Actual
Forecast
Actual
Forecast
Actual
Forecast
Actual
Forecast
Actual
Financial Year
2019/20
2019/20
2020/21
2020/21
Q1-21/22
Q1-21/22
Q2-21/22
Q2-21/22
Q3-21/22
Q3-21/22
Brought Forward
0.000
0.400
0.400
0.308
0.308
0.251
0.251
0.244
0.244
LEP Allocation
0.540
0.540
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
Spend [Act/Fcst]
0.170
0.140
0.197
0.092
0.125
0.057
0.045
0.007
0.037
0.016
Committed
0.170
0.000
0.197
0.105
0.125
0.068
0.045
0.038
0.037
0.021
Carried forward
0.369
0.400
0.203
0.308
0.183
0.251
0.206
0.244
0.207
0.228
Expenditure
£600,000.00
£500,000.00
£400,000.00
£300,000.00
£200,000.00
£100,000.00
£0.00
2019/20
2020/21
Q1 - 21/22
Q2 - 21/22
Q3 - 21/22
Q4 - 21/22
Axis Title
Qtrly Forecast
Qtrly Claims
Available IPF
What is our contribution to the Economic Strategy?
Quarter/ year:
(October - December) 2021
Programme Target
Outputs - cumulative from April 1st 2019 to 31st Dec 2021 (Quarter 3 2021/22)
Actual to date
to 2021
Number of Direct Full-Time Jobs Created
9
65
High Value Jobs created
9
59
Number of Jobs Safeguarded
10
60
Number of businesses created
4
12
Number of Businesses Supported (at least 12 hrs of support)
25
94
Number of Learners
0
415
Number of businesses engaged
385
848
Number of part time jobs created
4
0
What is the Project Delivery Status?
Building Supply Chains - NCC: This full grant award has now been paid to this project. The project has been re-profiled. The original objective of the ‘Building Skills Capacity’ project,
marketed as ‘Gearing up to Grow’ was to assist local SMEs to enter and support the future onshore part of the Vattenfall (and other wind energy project) supply chains by raising
awareness and understanding the opportunities, enabling them to upskill their staff and create jobs and form consortiums to enable them to bid for projects within the supply chain. Due to
the decision delays to approve the Vattenfall Offshore windfarm (DCO) and the impact of the COVID-19 pandemic, the decision was made to pause the project in 2020, taking the
opportunity to revisit the project aims and objectives. Norfolk County Council will now use the remaining project funding to become Phase 1 of a larger project across the Green Energy
sector opportunities that effect the East Anglian workforce and supply chain. The latter requires a time extension to 31st March 2022 to deliver the activity.
Since approval of the PCR NCC have commissioned SBLC Ltd (Simon Baker) to undertake a period of research to ascertain the volume and value of Clean Energy Sector opportunities
for the local supply chain, working closely with the NCC Team, Suffolk County Council and NALEP. The project has spent a further £948 with c. £5000 due in the next quarter.
The Ipswich Cornhill Action Plan- Ipswich Central: A claim of £23,712.05 was submitted late for Quarter 3 and a further claim of £2,032.95 was paid in Quarter 4. This project has
been completed. The project attracted £57,391.41 in Public Match Funding and £34,301.74 in Private Match funding. It created 62 new events in the Cornhill, increased dwell time by
9.75% and created a 27.75% increase in visits to the area.
Growing the Year-Round Economy - Visit East of England: A 6th claim has been submitted in this quarter totalling £8,786.39 and has been approved, this project will be paid its last
paument in early October. Two data stewards and administrator are now facilitated in an office with the Affinity Agency who are developing the website. This gives them instant access to
developers and client manager and help speed their work. The accommodation booking API is now functional and VEE is working with partners ‘Staylists’ to encourage more
accommodation venues to sign up. This project has been completed.
The Catapult - The Catapult Network: The Catapult - The Catapult Network: Andy Holyland based at Orbis Energy in Lowestoft started on 1st January 2020. 6 claims have been paid
to date totalling £41,438.54. The same total of Private Match has been recorded. Business Plan being further developed. This is to include Net Zero obligations,
consideration of a hub and scope type methodology with regards to multiple place-based solutions being identified that drive the need for an Integrated Centre of Excellence.
Norfolk & Suffolk Offshore Wind Competitiveness Positioning Programme - GYBC: Total project expenditure over two claims to date is £202,614 with a total of £60,581 paid out
to GYBC. Total Public match £142,032 has been evidenced. The project is progressing well despit COVID restrictions preventing Offshore / Inward Investment events from going ahead
at present. Much is being done via virtual conferences and meetings. A third claim has been submitted in Quarter 2 and is pending further evidence, the value of the claim is £28,125.34.
If further evidence is provided, this project will receive its full award.
Fit for Nuclear - West Suffolk College: The project started in 2020. However, due to COVID and Sizewell still awaiting the Final Investment Decision (FID) this project has not
progressed as well as hoped. The project lead (WS College) has indicated that they are confident that there will be an announcement on Sizewell in 2021 and Sizewell will get its FID.
Still awaiting a claim from WSC.
Creating Creative Capital - NUA: This project was re-approved by the IAC in October 2019. The project has submitted a signed offer letter and has claimed £20,000 to kick start the
project. This project is being paid in stages. The next payment of £70,000 has been requsted and will be paid in November.
2 monitoring reports have been received for the first phase.
What are the Next Steps?
The Programmes Case Worker for the IPF Programme is working with Project Leaders of the 2018 project call to ensure claims and associated monitoring reports are received for
Quarter 3 of 2021/22.
20
Innovative Projects Fund - 2019 Projects Call
Programme Overview - What is the Innovative Projects Fund
The Innovative Projects Fund is a revenue grant programme that provides funding towards innovative projects to support the delivery of the themes and activities identified in th
Economic and Local Industrial Strategies. The second call of the Innovative Projects Fund was made in October 2019 with a remit to facilitate innovative projects supporting
economic growth and the delivery of the Economic Strategy utilising revenue from the Enterprise Zone Pot C.
What is the Overall Programme Status?
Overall:
Green
18 out of the 18 projects have Offer Letters.
Delivery:
Green
17 out of 18 projects are now in their delivery phase. 1 project has completed.
Profiled Grant Spend to the end of Quarter 3 (2021/22) is £1,302,811. Actual Spend to date is £606,647. Delayed spend was due to
Spend:
Amber
COVID and related restrictions. The majority of projects are still due to submit claims for quarter 2 spend (up to the end of Sept).
Outputs:
Green
No accumulated outputs were forecast by the end of Quarter 3.
What are our Key Updates?
•18 projects have a combined allocation of £1,522,372. However, one project has been completed under budget and a further project has re-profiled (bringing down their IPF
grant) total combined allocation is now £1,502,217.
•18 projects now have their Grant Offer Letters and have commenced (1 project has been completed).
•£606,647 has been paid out to date.
•Private match funding of £175,823 and public match funding of £728,181 has been recorded.
What is our Financial Position?
Financials (£ million)
Forecast
Actual
Forecast
Actual
Forecast
Actual
Forecast
Actual
Financial Year
2020/21
2020/21
Q1 2021/22
Q1 2021/22
Q2 2021/22
Q2 2021/22
Q3 2021/22
Q3 2021/22
Brought Forward
1.522
1.233
1.233
1.131
1.131
0.956
0.956
LEP Allocation
1.522
0.000
0.000
0.000
0.000
0.000
0.000
0.000
Spend [Act/Fcst]
0.701
0.269
0.210
0.102
0.236
0.174
0.162
0.061
Committed
0.701
0.431
0.210
0.108
0.236
0.062
0.162
0.101
Carried forward
0.822
1.253
1.023
1.131
0.895
0.956
0.794
0.895
Expenditure
2,000,000.00
1,500,000.00
1,000,000.00
500,000.00
-
2020/21
Q1-21/22
Q2-21/22
Q3-21/22
Q4-21/22
2022/23
Axis Title
Qtrly Forecast
Qtrly Claims
Available IPF
What is our contribution to the Economic Strategy?
Quarter/ year:
3 (Oct - Dec) 2021
Programme
Outputs - cumulative from April 1st 2019 to 31 Dec (Quarter 3)
Actual to date
Target to 2022
Number of Direct Full-Time Jobs Created
10
101
High Value Jobs created
3
3
Number of Jobs Safeguarded
2
293
Number of businesses created
39
Number of Businesses Supported (at least 12 hrs of support
14
430
Number of Learners
105
268
Number of businesses created
0
39
No of Businesses Engaged
120
77
Number of part time jobs created
15
29
What is the Project Delivery Status?
See Appendix A for project delivery status.
What are the Next Steps?
The Programmes Case Worker for the IPF Programme is working with Project Leaders of the 2019 project call to ensure claims and associated monitoring reports are received
for Quarter 3 of 2021/22.
21
Appendix 1 - Innovative Projects Fund -Q2 2021-22 Programme Performance Report
Below is an update on all Innovative Projects Fund ‘2019 Call’ Projects, reflecting the
‘Project Delivery Status’ section of the Programme Performance Report.
Ref
Status
Project Name & Project Update
Offer
Letter
Signed &
Returned?
IPF-19-1
GREEN
NWC - Collaboration: Place: Change - £60,952
Y
Percentage of grant Claimed: 34.87%
The National Writing Centre has been paid its fourth claim £4,352. Total now
claimed £21,256. The project has created 2 P/T posts and has so far achieved
15 leadership qualification /learner outputs. A further 20 leaders have
started. A reprofiled budget has been submitted and approved. The new
budget means that the IPF will consequently retain £11,548. Claim 5 is
pending verification.
IPF-19-2
AMBER
East Suffolk - East Suffolk Smart Towns - £200,000
Y
Percentage of grant Claimed: 0%
In early November, the East Suffolk Team launched their pilot Digital Advice
Service. The pilot enabled ESC an insight for the larger ‘springboard’
programme that forms part of the Innovative Projects Bid for East Suffolk
Smart Towns. The project tendered the contract for diagnostic support for
200 business, a contract should be awarded in September. A first claim is
expected in December/January.
IPF-19-3
GREEN
UEA - Sunrise Coast - Seed corn - £11,393
Y
Percentage of grant Claimed: 100%
The project has been completed. The project timeframe was constricted
due to the late release of the UKRI Strength in Places programme guidance
and earlier submission requirement. The UEA took the decision to hire
consultants to undertake delivery. That said, the eventual total project
value was closer to
£32 million
(original estimate
£20million) and if
successful will lead to the direct creation of 21 jobs for the region as part of
the programme and with the potential to support the creation of many
thousands of additional high value jobs. 1 indirect High Value FTE was
created.
IPF-19-4
GREEN
SCC - Culture Drives Growth - £15,000
Y
Percentage of grant Claimed: 46.3%
The New Anglia LEP Culture Board has Commissioned Tom Fleming Creative
Consultancy to deliver the development of the Cultural Strategy.
A 2nd claim for £5,280 has been submitted and paid.
22
New Timetable is as follows:
-
Draft set of priorities and actions will be presented to the Board’s
October 23rd Meeting.
-
Final Strategy and Plan, starting with implementation starting in
April 2022 - March 2027 will be presented to the December 8th
Board meeting - for agreement
-
New Strategy - launched in February 2022
-
New Structure implemented
-
New structure and strategy in place for April 2022
Final claim to be submitted in March 2022.
IPF-19-5
GREEN
Netmatters - SCION Project - £100,000
Y
Percentage of grant Claimed: 77.3%
The project has now submitted 3 claims to the value of £77,290. A 4th claim
for £15,340 is pending (signature required). It has created 45 learner
positions/opportunities. 12 of the students are now in FT Employment
with more to follow.
IPF-19-6
AMBER
South Norfolk DC - SETI - £28,750
Y
Percentage of grant Claimed: 0%
Offer Letter has been signed and returned. Awaiting first claim
IPF-19-7
GREEN
Innovation Labs Stowmarket - £45,000
Y
Percentage of grant Claimed: 86%
£38,702 has been claimed by Innovation Labs towards the virtual tenancy
and the two interactive platforms. £31,074 of Private match has been
recorded. Peter Brady is progressing well on the academy training
programme, new labs venues, Virtual memberships and the 2 new website
Platforms. A report has been received, awaiting claim and expenditure
evidence to complete the project.
IPF-19-8
GREEN
CNTC - NAAME - £180,700
Y
Percentage of grant Claimed: 53.85%
Led by Broadland District Council - the project is underway, and the first
claim of £97,299 has been paid. The NAAME Development plan has been
published and the labour sharing platform has been created and is being
tested. Next claim now due.
IPF-19-9
GREEN
NCC - Norwich Good Economy Project - £50,000
Y
23
Percentage of grant Claimed: 15%
This project has submitted its first claim (£7,512) and the claim is pending
approval for payment. A first grant payment has been made to a CIC to
carry out one of the ‘Good Jobs’ Pilot projects. The project has been in
touch and a second claim is imminent.
IPF-19-10
AMBER
SCC - Innovation Hub within Transport Strategy - £140,000
N
Percentage of grant Claimed: 0%
Offer Letter has been signed and an claims process meeting has been
scheduled for 13th July. All parties are ready to proceed. Claim due.
IPF-19-11
GREEN
TCHC - VG Incubator - £120,000
Y
Percentage of grant Claimed: 57.75%
This project is progressing well, £69,302 claimed to date. The project is
receiving very good feedback.
The first game has been published from a participant in the cohort on steam
Secrets Of Soil on Steam (steampowered.com) which has had some press
attention.
One student is in FTE, a further 7 have become freelance and have picked
up contracts. Claim 6 Imminent.
IPF-19-12
GREEN
NCC - Innovate UK Mentoring Project - £96,000
Y
Percentage of grant Claimed: 63.23%
This project has been paid its second claim. An upfront payment was
made in December totalling £50,760. The project has claimed £60,698 to
date. The project has supported 3 Bids to Innovate UK Smart Grant March
2021 - outcome pending. The project has 14 bid writers in total and 23
mentors. 3 business have progressed to application stage.
IPF-19-13
GREEN
Coderus - LOCKE - £59,000
Y
Percentage of grant Claimed: 0%
This is a private sector led project that expressed a wish to delay the
project by 6 months due to COVID. The project has commenced a draft
claim has been submitted. The programmes Caseworker met with the
project to go through the claim’s procedure and a claim has been
submitted pending verification.
IPF-19-14
GREEN
Catapult - F4ORE - £75,000
Y
24
Percentage of grant Claimed: 100%
The project has claimed in full and identified the 10 businesses to
complete the Fit 4 Offshore qualification. The project has benefited from
addition NSF grant funding too to increase the number of businesses by 5.
10 businesses are due to complete this quarter. Report /evaluation
pending.
IPF-19-15
GREEN
BCKLWN - GAME ON - £65,000
Y
Percentage of grant Claimed: 40.22%
The project has been claimed £26,142 to date. The core team has been
hired and pre-production work has commenced. Production started in
January. The main event took place in October- it was a great success.
The second event ‘Manifesto’ is now in production.
IPF-19-16
GREEN
First Light Lowestoft - £71,034
Y
Percentage of grant Claimed: 62.34%
The project delivered the Fiery Sun Winter Solstice event - it was streamed
over the solstice weekend on the 19/20/21st December. The project ran a
series of events called the longest days of Summer delivered under COVID
restrictions on 26/27th June. A further claim is expected w/c 8/11/2021
IPF-19-17
GREEN
NCC - Celebrating Culture - £84,388
Y
Percentage of grant Claimed:51.36 %
The project has claimed £43,346 to date. The Freelance campaign
management role has been filled (for the second time). The campaign is
now called ‘Head East’.
IPF-19-18
GREEN
ICM - Ipswich Cornhill - £100,000
Y
Percentage of grant Claimed: 29.78%
The project has claimed £29,782 to date. Progress of the project on the
Ipswich Cornhill has been delayed due to the COVID-19 restrictions. A
monitoring claim was submitted as a 2nd claim and Locus Management
paid this. A fourth claim is imminent.
25