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A Vibrant Economy

Action

Resources

Target start and end

Committee and Senior Responsible Officer

Principles

Establish an Anchor Institution Partnership, the Council acting as a facilitator to lead projects, such as the– Youth Hub focussed on skills and employability for young people with Mid Kent College and increasing spend in the local economy to support businesses in the borough.

Anchor Institutions are large, usually non-profit organisations “tethered” to their communities, like local government, education establishments and medical facilities e.g. hospitals. A partnership working on linking job opportunities with local people through a collaborative approach to skills, training, education and employment would respond well to our Build Back Local aspiration and Strategic Plan actions and recognise the council’s vital role in place based leadership. Preliminary soundings have been positive

The pandemic has seen unemployment levels rise in all age groups but particularly the 18-24 years old. Unemployment is also higher in our deprived wards. The College is proposing a town centre venue to provide accessible training, careers advice, and employability support for all residents, but particularly young people in an informal environment in partnership with others such as DWP, and the Youth Steering Group. MBC’s funding would support the staff costs involved in operating the centre.  This is an action in the draft Economic Development Strategy under Inclusive Growth.

£30,000

September 2021 - (project planning with MKC to identify end)

ERL/AB/ JF

Maidstone Open for Business

Vibrant Visitor Economy – diversify and respond to health and well-being needs through e.g. enhancing arts and culture offer; promotion of destination Maidstone borough to encourage visitors to return and spend.

A new area of focus was agreed for 2021/26 by Council in February 2021 to “deliver a sustainable and vibrant leisure and cultural offer for the Borough”

The Visitor Economy is worth over £300m to the local economy and directly employs over 5000 people. Retail, Hospitality and Leisure sectors have been hardest hit by COVID-19, lockdowns and social restrictions. Current staff are managing the Welcome Back Fund and Reopening High Street Fund and updating Visit Maidstone and engaging with the visitor attractions, accommodation providers and event organisers. Competition to capture the staycation market this year will be intense. Critically important to our hotel industry in Maidstone is the return to business travel, conferences, and exhibitions. Funding to support a resource for 1 to increase our digital marketing/social media capacity is requested until business as usual can be resumed.

£32,000

From Business Rates Pool

November 2021 to November 2022

ERL/JF

Maidstone's Open for Business/

Levelling Up/ Community resilience

Having business ready premises – move in ready kick start/pump prime linked to the Economic Development Strategy

This is set out in Priority 1 Open for Business in the draft Economic Development Strategy. “Consider investing in industrial and warehouse premises to help de risk new employment sites coming forward” and the Strategic Plan areas of focus for 2021/26 “Intervening where necessary in the market, to deliver key employment sites”

In addition, any such future activity would be required to meet the minimum targets and parameters set out in the Council’s Capital Programme Medium Term Financial Strategy Report to Policy and Committee (January 2021). This could extend to further investment opportunities on Kent Medical Campus or at Loc8 Maidstone at Junction 8 M20 or the rural employment sites.

Capital programme

September 2021 and going

P&R/JF

Maidstone's Open for business

Capacity to develop projects and bids for bidding e.g. Levelling Up Fund, Future Towns Fund

Large capital and revenue bids often require specialised knowledge to support the business case within the application. This fund would enable us to buy in this technical support at the appropriate time and at the speed needed to respond to short deadlines.

£45,000

September 2021 to September 2025

P&R/JF

Cross Cutting

Total

£107,000