Purpose

To present the draft criteria and processes for the Investment Zone Research, Development and Innovation grants and to seek approval to begin delivery of the grants.

Decision

(a)      That the establishment of the Investment Zone research and development and manufacturing growth grants be approved in line with the initial criteria and processes outline in the report; and

(b)      That delegated authority be given to the Chief Officer (Place and Growth) in liaison with the Section 151 Officer and the Deputy Leader of the Council and Cabinet Member for Transformation, Place and Growth to launch the grant and establish approval processes, management and monitoring arrangements for its successful operation.