Purpose

To consider a proposal to introduce the Build it in Boston scheme; a scheme designed to support with attracting high-value, high-growth businesses, with particular interest in the potential to attract small digital and IT services businesses that may be seeking a base in Boston.

Decision

Resolved:

1. 1.    That the introduction of the Build it in Boston scheme, as set out within the report, be approved;
2. 2.    That the financial implications of the scheme be noted;
3. 3.    That the allocation of £15,000 in 2026/27 from earmarked reserves to fund a professional marketing campaign be approved;
4. 4.    That the allocation of £30,000 across 2026/27 and 2027/28 from earmarked reserves to establish a relocation support fund be approved, with payments to be made only where agreed outputs are delivered and evidenced; and
5. 5.    That authority be delegated to the Service Director - Strategic Growth and Development, in consultation with the Portfolio Holder for Finance and Economic Growth, to finalise and implement the scheme, including decisions relating to the specific expenditure of the relocation element of the scheme.

Reasons for the decision

·         The recommendations enable the Council to meet to the ambition to attract high-value, high-growth businesses into Boston. The proposal focuses particularly on small digital and IT services businesses, including international businesses that may be considering a UK or European satellite base.

·         The Build it in Boston scheme is considered the most direct and proportionate way to test this proposition. It combines targeted marketing and outreach with a relocation support pot, creating both market reach and a practical incentive for businesses to engage.

·         The proposed £45,000 allocation supports a time-limited pilot, allowing the Council to test market response, generate intelligence and assess whether the approach can produce credible inward investment leads before considering any further activity.

Alternative options considered

Do nothing – Under this option, the anticipated benefits as articulated within the report would not be realised.