Decision details

OD-17-48 Ipswich Waterfront Innovation Centre - Revenue Grant

Decision Maker: Officer Decision

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

Ipswich Waterfront Innovation Centre (IWIC) supports the Ipswich Borough Council Economic Strategy and Implementation Plan’s focus on jobs and skills in Ipswich. In particular, to support innovation and business growth.

 

On 17th September 2013 the updated Implementation Plan to accompany the Ipswich Economic Strategy 2012 -2026 was adopted by Executive.

 

13.3 That Executive authorises the Head of Development and Public Protection, in consultation with the Portfolio Holder for Planning and Economic Development, to negotiate and approve all final project delivery plans associated with the adopted Implementation Plan where this can be done in accordance with his existing delegations, Contract Standing Orders and Procurement rules and providing the amounts for each project shown in Appendix 1 are not exceeded.

 

Appendix 1, the implementation plan, allocated £120K revenue for the Innovation Centre. IWIC completed refurbishment in October 2016 the IWIC manager and supporting staff were appointed in full in 2017.

Decision:

Decision

Ipswich Borough Council will invest £120,000 over three years to contribute to the revenue costs of IWIC (circa £150Kp.a)

 

Reason for Recommendation

There is an allocated budget of £120K in Economic Development to support the revenue costs of IWIC. The PH and Leader of the Council are supportive of the proposal.

Publication date: 04/12/2017

Date of decision: 29/11/2017

Accompanying Documents: