Issue - meetings

To receive a presentation from the Economic Development Team Leader providing an update on the Shared Prosperity Fund Year 3, Quarter 2 position.

The Group received, and NOTED, a presentation from the Economic Development Team Leader providing an update on the Shared Prosperity Fund Year 3, Quarter 2 position.

The following summary was provided:

·       Key activities under the ‘Love Your Town Centre’ project had been the Shopfront Enhancement Scheme and the Business Growth Fit-Out Schemes. Key objectives had been to improve commercial buildings, reduce vacant units, support businesses, arts, cultural and heritage events. Next steps included a continuation of shopfront match funded scheme and new schemes planned for 2025/26. Challenges included a low application rate and weather impacting event delivery.

·       Field to Fork: Meet the Producer Campaign. Showcasing Events, including the Mid Devon Show 2024 and the Devon County Show 2024. Food and drink businesses supported were listed in the presentation.

·       Visitor Economy: Promoting Mid Devon Tourism Events and Activities, including the Tiverton Swan Trail and the Mid Devon Walking Festival.

·       Other Projects included People and Skills: Employment Skills Hub project with Devon County Council, Business Innovation Centre and Outreach Programme with Petroc College. Business Support through the Prosper Support Programme with Devon County Council. Further Business Support through Devon Agri-Tech Alliance.

·       Much had been achieved in terms of Business Support and Outreach.

·       Prosperity Programme: Grant scheme supporting applications under various themes.

·       Work Hub Scheme: The Hubs supported were listed and the next steps were works to the Market Centre which would commence in December 2024 and advertising for ‘Expressions of Interest’ from prospective operators.

·       Prosperity Grants: Prosperity Programme completed and ongoing monitoring underway. Higher interest in adopting new technologies and reaching new markets versus lower interest in job creation. Business support was being promoted to encourage more take-up.

Discussion took place regarding:

·       It was not yet known which areas of Mid Devon would receive funding for particular projects. It was hoped that there would be a fair distribution across the district.

·       More innovative ideas were needed to support town centre business premises.

·       How footfall data was collected was explained. This took place through the use of a facilitator called ‘Visitor Insights’ which used geolocation data from digital devices and was 97% accurate. This data was shared with Town Councils and other service areas within the Council.

·       80% of customers searched online for products first therefore businesses were strongly encouraged to create an online presence.

·       The Prosper Programme provided advice and support and businesses were encouraged to tap into this.

·       The appearance of some shop fronts in town centres was putting some people off from visiting. Tiverton in particular had a significant problem with absentee landlords so it was very difficult to seek engagement from them. The Shopfront Enhancement Scheme existed to help support the improvement of some shopfronts but this needed to be applied for and engagement with the landlord was vital.

·       The Government had started to introduce high street rental auctions. The Council needed to understand what opportunities that might provide going forwards.