Agenda and minutes

[To receive any apologies for absence and notification of substitutions]. 

An apology for absence was received from Cllr Rupinderjit Kaur. 

[To receive any declarations of interest]. 

The Portfolio Holder for Inclusive City Economy, Cllr Stephen Simkins, declared a non-pecuniary interest for in the event of the Canal Side Quarter Development being discussed and the Bradley arm canal restoration.

Cllr Phil Bateman MBE decaled a non-pecuniary interest for in the event of the Canal Side Quarter Development being discussed as he sat as a Director on the Advisory Board for the Canal and River Trust West Midlands. 

[To approve the minutes of the previous meeting as a correct record]. 

Resolved: That the minutes of the Stronger City Economy Scrutiny Panel held on the 18 March 2021 be approved as a correct record. 

[To receive a presentation on inward investment and the Green Sector]. 

[Presentation is marked: To Follow]. 

The Chair welcomed Christopher Kirkland to his new role as the Head of City Investment and wished him well in the role. 

The Portfolio Holder for Inclusive City Economy formally welcomed Cllr Sweetman back as the Chair of the Stronger City Economy Scrutiny Panel.  He also welcomed the new Members of the Panel and commented that he looked forward to working with them. 

The Portfolio Holder for Inclusive City Economy stated that inward investment was key for the City of Wolverhampton.  The City needed to attract as much inward investment as it could, and this included from Central Government for the large redevelopment projects.  Inward investment needed to be attracted for many aspects of the Wolverhampton economy such as leisure and the late-night entertainment economy. 

The Head of City Investment gave a presentation on inward investment.  The Council had data on inward investment from 2017 – 2020.  He was conscious that the Chair had requested data from the last ten years, but this was unfortunately not available.  They were missing data from the last twelve months which he put down to the Covid-19 pandemic and the resources of Officers, his post had been vacant for some time.  The table he showed was of assisted investment, that being where the Local Authority had helped obtain the investment.  He wanted to capture non-assisted investment moving forwards.  He thought this was useful information in determining how investable Wolverhampton was as a City.  The tables did also not show the investment from Central Government and investment in residential. 

The Head of City Investment stated that in 2017-2018 the data for assisted investment was, 5 projects and 440 jobs created (3-year projection).  In 2018-2019 there had been 13 projects with a 3-year projection of 1,358 jobs.  In the following year 2019-2020, there were 7 projects with a 3-year projection of 490 jobs created.  Taking out some of the larger investments, they were averaging about 750 jobs a year, that the Council had directly supported as an investment team.  Due to there not being data from March 2020 – March 2021 it was difficult to draw any conclusions on the impact of the pandemic.  It was however obvious that some sectors had been impacted and in particular the hospitality and leisure sector.  It was also true that in the last 18 Months, Wolverhampton had seen a lot of successful investment despite the pandemic.  There had been growth in the distribution and logistics sector, he cited the example of the industrial estate Pantheon Park, which was now fully occupied.

The Head of City Investment remarked that in the period 2020/2021 the UK attracted 1,538 new inward investment projects and 55,319 new jobs.  This was a reduction of 17% and 1% respectively on 2019/2020.  In the Black Country LEP area there were 8 successful FDI projects and 93 new jobs created, with a further 3 jobs safeguarded.  That compared to 17 projects and well over 500 jobs in the previous year.  He cited the recent investment successes as  ...  view the full minutes text for item 4.

[To consider the draft Work Programme for the Stronger City Economy Scrutiny Panel]. 

The Chair stressed the importance of thinking about the long-term future when developing the Work Programme.  She was happy for Members to contact her outside of the meeting with ideas. She commented that the Panel could invite some witnesses to future Panel Members such as business champions or representatives.  How champions were used she felt was an important topic for discussion.  The Cabinet Member for Inclusive City Economy said he would welcome such witnesses at future Scrutiny meetings.   

Resolved: That the Work Programme for the Stronger City Economy Scrutiny Panel be agreed. 

[The terms of reference for the Public Realm Member Reference Group stipulate two Members from the Stronger City Economy Scrutiny Panel should be Members.  Cllr Gillian Wildman has agreed to be a Member of the Reference Group.  The Panel is asked to ratify this nomination.  There is one remaining vacancy (Labour)]. 

Resolved: That the Stronger City Economy Scrutiny Panel ratifies, Cllr Gillian Wildman, Membership on the Public Realm Member Reference Group.

The Chair thanked Members and Officers for their contributions to the meeting.

The Cabinet Member thanked the Chair for Chairing an excellent meeting and Panel Members for their contributions. 

The meeting ended at 7:45pm.