Purpose

To
consider and agree a refresh of the Council’s strategy for economic growth.
This will encompass the functions to be taken over by the Council from Dorset Local
Enterprise Partnership in accordance with devolution and promote the needs and
actions required to drive forward the economy in the Dorset Council area.

 

To
endorse the proposal for use of the Rural England
Prosperity Fund extension for FY 2026 and delegate authority for its
implementation.

 

Content

(a)          
That the
Economic Growth Strategy be approved

 

(b)          
That
authority be delegated to the Executive Director for Place Services in
consultation with the Cabinet Member for Property & Assets and Economic
Growth, to approve final document design and minor textual changes.

 

(c)          
That
authority be delegated to the Cabinet Member for Property & Assets and
Economic Growth, in consultation with the Executive Director for Place Services
and the Director of Legal and Democratic, to finalise the terms of reference
and any other required governance for the Dorset Growth Board.

 

(d)          
That the
roles that several Dorset Council services need to play in supporting improved
economic growth, be noted.

 

(e)          
Cabinet
endorsed the allocation of the £0.62m Dorset Rural England Prosperity Fund
(REPF) FY2026 extension funds, on a 50/50 basis, to two interventions
previously funded by REPF, that complement the Shared Prosperity Fund extension
interventions approved by Cabinet on 25 January 2025:

 

a.   
Advice
and support to business (productivity grants) and

b.   
Zero
Carbon Business Support (DC Zero Carbon Dorset grants)

 

Reason for the decision

 

The Economic Growth Strategy was a significant document
which was being produced at a critical time. World economics were currently
very fluid, and the council was aware of a wide range of economic challenges
and opportunities was it sought to create a more prosperous and more
sustainable Dorset for current and future generations.