This report seeks approval for funding to create a Funding & Investment Officer post within the Business & Economy Team for an initial period of 2 years to support the implementation of the Councils Economic Strategy.

In accepting the recommendation, funding of £39,930 will be approved from the Economic Development Fund in 2015/16 and £40,730 in 2016/17 for a post of Funding & Investment Officer; the effectiveness of the role will be reviewed towards the end of 2016/17 and, subject to the outcome of the review, a further report will be brought to Cabinet regarding funding the post beyond 2016/17.

The subject of the decision:

This report sought approval to create a Funding and Investment Officer post within the Business and Economy Team for an initial period of 2 years to support the implementation of the Council’s Economic Strategy.

Alternative options considered:

None.

The reason for the decision:

Cabinet was satisfied that creation of the post would support the Council’s priority Driving Economic Development and supporting local economic growth by securing funding and investment to deliver projects identified in the Council’s Economic Strategy.

THE DECISION:

That:-

(1)     funding of £39,930 be approved from the Economic Development Fund in 2015/16 and £40,730 in 2016/17 for a post of Funding & Investment Officer;

(2)     the effectiveness of the role be reviewed towards the end of 2016/17; and

(3)     subject to the outcome of the review, a further report be brought to Cabinet regarding funding the post beyond 2016/17.