New Anglia Local Enterprise Partnership
Investment Appraisal Committee
Wednesday 19 July 2023
TEAMS Meeting
9am to 9:45am
Agenda
No. Item
1. Welcome
Main Agenda
2. Apologies
3. Declarations of Interest
4. Minutes of previous meeting – 21 June 2023
Reporting: Grant approval reporting
5. Business Transition to Net Zero Programme Performance Report
Items for Discussion
6. Confidential: Growing Places Fund loans update
Other
7. Any Other Business
1
Committee Members
Neil Macdonald Ipswich Borough Council
Kay Mason-Billig Norfolk County Council
Sandy Ruddock Scarlett and Mustard
Mike Stonard Norwich City Council
Dominic Keen High Growth Robotics
Kathy Atkinson Valeo
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: Wednesday 20 September 2023, 9:00am
Venue: TEAMS Meeting
2
New Anglia Local Enterprise Partnership
Investment Appraisal Committee
Wednesday 21st June 2023
Minutes
No. Item
1. Welcome
2.
Election of IAC Chair
Kathy Atkinson was duly elected as the new chair of the committee.
Main Agenda
3.
Apologies
Received from Kay Mason Billig.
4. Declarations of Interest – none declared.
5.
Investment Appraisal Committee Terms of Reference
The terms of reference were presented and agreed by the committee.
6.
Minutes of previous meeting – 30 March 2023
Minutes were agreed as an accurate record of the previous meeting.
7.
Growing Places Fund loans update: Confidential
Main points as follows:
Existing Loans – Update
3
4
5
Reporting: Grant approval reporting
8 a-b
Small Grant Scheme and Growth Through Innovation Grant approval reports.
The final project approval reports of the SGS and GTI schemes were presented,
with all projects approved by 31 March 2023. The ERDF programme is now
complete other than issuing the final payments on the remaining approved
projects- only around 45 projects are left to be paid.
Committee noted the update.
Items for Discussion
9.
Confidential: Growing Places Fund project introduction
10.
Confidential: Growing Places Fund loan proposal paper
6
Other
11. Any Other Business – none raised
Committee Members
Neil Macdonald Ipswich Borough Council
Kay Mason-Billig Norfolk County Council
Sandy Ruddock Scarlett and Mustard
Mike Stonard Norwich City Council
Dominic Keen High Growth Robotics
Kathy Atkinson Valeo
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: Wednesday 19 July 2023, 9:00am
Venue: TEAMS Meeting
7
Item5‐BusinessTransitiontoNetZeroGrantPerformanceReport
ProgrammeOverview‐WhatistheBusinessTransitiontoNetZeroGrant?
WhatistheOverallProgrammeStatus?
Grantsposition Amber
Outputs
achieved
Amber
Actual
2023/24
£2.470million
£347,855
£220,886
Grantremaining £1,901million
WhatisourcontributiontotheEconomicStrategy?
11
11
£2.36m
£2.92m
O
vera
ll
status
Purple Red Amber Blue
Pipeline Atrisk Claimstage Complete Total
63817
Change
Developpipelineofbusinessdevelopmentstowardscontinuedgrantprovision
FinancialYear
Grantavailable
Capitalinvestmentprojectssupported
NetZerobusinessplans/actionsintroduced
Programmeperformancetodate
Grantpaidout
Tobeclaimed
R
ev
i
ewe
ff
ecto
f
grants
i
n
b
us
i
nesses,mon
i
tor
CO2
re
d
uct
i
onsan
d
encourage
take
up
of
the
grant.
•Programmeduration‐2022‐24.TheprogrammewasapprovedbyLEPBoardinMay2022andeffectivelystartedinsummerof2022.
•Value:£2.47m.SourcedfromrecycledloanfinancefromtheGrowingPlacesFund.
Whatarethenextsteps?
WhatistheProjectStatus?
Currentstatusofallprojects.
Totalinvestmentinc.grants
•Investedtodate‐£348kgrantinbusinessinfrastructurethatleadstoanefficiency/carbonreductionwithinabusiness.Grantsareassistingbusinesstomov
e
towardsNetZerotargetsandaimtoidentifyinnovativesectorleadingbusinessesontheNetZeroagenda.
Grantsprogressing.Takeupmayhavebeendelayedbyenergy/costofliving/RussianinvasionofUkraine‐allaffecting
businessinvestmentdeccisions.
•ContributiontotheEconomicStrategy:Todatethefundhasleveraged£2.36millionofcoinvestmentfrombusinesses,supported11capitalinvestment
projects,andidentifiedefficienciesandcarbonreductionsinthebusinesses.
Outputswillbemonitoredandreviewedatmilestonesduringthegrantprogramme.CO2reductionswillbecalculatedat
milestones‐endofcalendaryear2023andApril2024.
Outputs–cumulativefromJune2022toQuarter12023
Businessco‐investment
Whatisourfinancialposition?
Financials(£millions)
8
