Agenda item

Report attached.

The Cabinet considered a report of Councillor Zak Khan, Portfolio Holder for Economic Development and Sustainability, providing an update and assessment of progress regarding Economic Development activity.  Councillor Khan highlighted the main areas covered by the report.

Councillor Mohammed Younis welcomed the report and indicated that he worked closely with Councillor Khan on Town Centre issues.  Councillor Noordad Aziz asked, in relation to the Local Plan, if any Hyndburn businesses had been forced to relocate out of the area due to a lack of suitable employment land.  Councillor Khan responded that he had recently held discussions with one organisation that had been contemplating leaving the area and had been successful in making the case for them to stay.  He was optimistic that better engagement with businesses made Hyndburn an attractive place to carry on a business.

Approval of the report was not considered to be a key decision.

Reasons for Decision

The Council’s newly approved Corporate Strategy had set out an ambitious and sustainable future for Hyndburn.  The strategy identified three areas for growth:

• Employment and business growth;
• Revitalise Accrington town centre; and
• Housing growth.

The allocation of £20 million Levelling Up funding, with an additional £3 million from Hyndburn BC and Lancashire CC, supported ambitious growth plans for Accrington town centre.  Investment plans and development were well underway with exciting and ambitious plans for the regeneration of three key buildings:  the Market Hall, Burtons Chambers and Market Chambers.  The recent announcement of a further £20 million funding package over the next ten years for Accrington as part of the Government’s “long term plan for towns” would enable more investment on local people’s priorities for Accrington, providing more growth opportunities.  Further good news was the very recent announcement that Hyndburn had secured a £463,056 development grant from The National Lottery Heritage Fund (NHLF) towards the historic building, Market Chambers, which formed part of Accrington town centre’s Levelling Up project.  After the development phase was complete (over the next 12-15 months), the proposed plans would be submitted to The National Lottery Heritage Fund to unlock further NHLF funding, which would total £4.5million investment if successful.

As a result of securing additional funding for Accrington town centre, the Council was now considering a new town centre Masterplan that would incorporate key buildings such as the Arndale shopping centre.

Even more good news for Hyndburn’s economy and other town centres was the recent £237,000 award of revenue funding after a successful bid to the Government’s High Street Accelerators Pilot Programme, to be spent in Great Harwood on greening and revitalising the high street, with a further opportunity to bid for additional capital funding of circa £0.5million.

The Council was also hoping it’s bid for £30 million for Huncoat Garden Village would be supported by Homes England early in 2024 in support of its housing growth plans.  Huncoat Garden Village would see just over 1,800 new homes built over the next 10-15 years with a total investment of £463.5 million investment.

In addition, the Council had secured just under £3 million UK Shared Prosperity funding up to April 2025 which would support growth and new business, greening of Accrington town centre, low carbon initiatives for local businesses and a regeneration, arts, culture and heritage package.

This level of investment was unprecedented and was an exciting opportunity for Hyndburn to realise it’s growth aspirations.  Over the summer the Council had created a new Economic Developer Manager position to step up and escalate the Council’s economic development function to support the Council’s growth aspirations, with a specific role to engage with local businesses and attract new employers to the Borough.  Salma Chaudhry, a very experienced economic development officer, had taken up the new role of Economic Development Manager (EDM) since the end of July 2023.  Since her appointment, Salma had been making significant progress with the Council’s ambitions for employment and business growth.

Economic development activity included the following matters, further details of which were provided in the report:

• Local Plan;
• Federation of Small Businesses;
• Economic Policy Forum;
• Mini Business Workshops;
• UK Shared Prosperity Fund (UKSPF);
• Meeting with Business Leaders;
• Community Outreach;
• Lancashire Business Day;
• Communication; and
• Employment & Skills Meeting.

There were no alternative options for consideration or reasons

Resolved                                    -    That Cabinet notes the report and progress with Economic Development activity