This report identifies the future funding requirements for the Lancashire Enterprise Partnership (LEP), specifically requesting that Cabinet approves the allocation of £0.250m annually from 2018/19 onwards from the County Council's £1.000m annual contribution to the Economic Development Service. This arrangement would be subject to annual performance reviews and changes in Government policy and funding approaches.
The proposed allocation of resources will enable the LEP to draw-down core funding from Government, as in previous years, and would enable the continuation of core activities.
The report also sets out capacity and resource proposals for the LEP, summarising how the LEP has used capacity and core funding monies provided by Government and match funding provided by the County Council since the LEP's inception.
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 18/01/2018
Anticipated restriction: Part I -
Decision due: 18 Jan 2018 by Cabinet
Lead member: Cabinet Member for Economic Development, Environment and Planning
Contact: Kathryn Molloy Email: kathryn.molloy@lancashire.gov.uk Tel: 01772 538790.