Decision details

Approving the launch of the Economic Action Plan for the City and authorise the associated funding requirements to be prepared.

To approve the Leicester Economic Action Plan – A plan for jobs and growth: 2012 to 2020 and to authorise the additional financial contributions required from the Council to deliver a number of projects described in Appendix 2 of the report. This includes immediately approving the £13.479m required to fully deliver Phase 1 of the Plan and approving in principle a further £16.6m to deliver Phase 2 of the Plan. Phase 2 approval to be confirmed in 2013 following confirmation of funding which is anticipated to be received in 2013.

The plan outlines economic interventions from 2012 to 2020, demonstrating how we will boost economic growth and enhance the competitiveness of Leicester. 

The plan was based on detailed consultations with many stakeholders in the city, especially the business community and the economic development scrutiny commission. Many options were considered and the proposed actions were felt to be realistic, achievable and designed to maximise impact on the city economy.