Prior to the commencement of the meeting the Convener intimated that this meeting of the Board would be filmed for live or subsequent broadcast via the Council's internet site.

There were no declarations of interest intimated prior to the commencement of the meeting.

There was submitted a joint report by the Chief Executive and the Director of Finance & Resources relative to the projected revenue outturn as at 16 September 2022 for those services reporting to the Economy & Regeneration Board which reported an underspend position of £0.034 million.

The projected capital outturn for projects reporting to this Board as at 31 March 2023 was a breakeven position against the revised budget for the year. Tables 1 and 2 summarised the position and further analysis was provided in the appendices to the report.

The report advised that since consideration of the previous report, capital budget changes totalling £12.702 million had arisen which reflected budget carried forward into 2023/24 from 2022/23 for updated cashflows of £13.146 million and budget brought forward into 2022 from 2023/24 of £0.444 million.

DECIDED:

(a) That the projected Revenue outturn position detailed in Table 1 be noted; 

(b) That the projected Capital outturn position detailed in Table 2 be noted; and

(c) That the budget adjustments detailed in sections 4 and 6 of the report be noted.

There was submitted a report by the Chief Executive relative to the recommendations of the Renfrewshire Growth Sector commission conducted by EKOS imited. 

The report advised that Renfrewshire Council was looking at ways to grow the local economy through delivering sustainable business growth and securing economic prosperity within the context of a fast changing and developing external environment.  This aligned to the Council’s overall Economic Strategy and the evolution of the strategic approach to business development.

At the start of 2022, the Council had identified a need to engage specialist advice as to which sectors Renfrewshire should be targeting to support business growth and secure inward investment. EKOS were commissioned to carry out the work in April 2022 and the research aims, objectives and methodology were outlined within the report.  A copy of the report prepared by EKOS was attached as Appendix 1. A summary of the key findings of the commission was provided, together with details of key themes identified, potential risks and challenges and proposed future action.

During discussion, it was agreed that a report be submitted to a future meeting of the Leadership Board and this Policy Board in connection with opportunities for growth of the culture and tourism sector, including the development of tourism at Clyde Muirshiel Country Park; that the potential for temporarily reducing the lease costs of Council premises, to support local small businesses, be investigated; that a comprehensive business directory for Renfrewshire be developed; and that a letter be issued to both the UK and Scottish Governments seeking urgent action in respect of the impact of the energy crisis on local business.

DECIDED:

(a) That the findings and recommendations of the report be noted;  

(b) That it be noted that the next stage of the commission would consider the Council’s Economic Development Service and how to provide an enhanced account managed function to businesses in Renfrewshire’s key growth sectors;

(c) That a report be submitted to a future meeting of the Leadership Board and this Policy Board in connection with opportunities for growth of the culture and tourism sector, including the opportunities to support a regional tourism destination at Clyde Muirshiel Country Park;

(d) That a comprehensive business directory for Renfrewshire be developed; 

(e) That a letter be issued to both the UK and Scottish Governments seeking urgent action in respect of the impact of the energy crisis on local business; and 

(f) That the potential for temporarily reducing the lease costs of Council premises, to support local small businesses, be investigated.

There was submitted a report by the Chief Executive relative to the Paisley Cinema Demand Study

The report provided a summary of the support provided by the Council to Paisley Community Trust (PCT) as it had developed various proposals for a new cinema and related facilities in Paisley town centre.  Specific reference was made to the support the Council provided to PCT during 2021 to develop the business case proposal as a potential project for consideration for the UK Government levelling up fund (LUF).  Following completion of that phase of business case development, the project had been assessed as being insufficiently developed to present a credible and robust proposal for consideration by the Council for the LUF bid process and that further development would be required. A Cinema Demand Study had been commissioned by leading independent market experts to assess the potential demand for such a facility in the present context and it had been agreed that the Council would continue to work in partnership with PCT to develop the proposal further as part of identifying several projects suitable for consideration for future LUF bid rounds. It was acknowledged that a pre-requisite for demonstrating the viability of the project, which was intended to operate within a highly competitive commercial market, was the extent to which sustainable customer demand was likely to exist and be secured by the proposed facility. The report detailed the brief for the Study, the key findings, PCT’s response to the Study and outlined conclusions made by officers. 

DECIDED: 

(a) That the conclusions from the independent Cinema Demand Study commissioned for Paisley Town Centre in 2022 be noted; and

(b) That the conclusions drawn by officers and detailed within the report be noted and agreed.