Purpose

The Sustainable Economy Fund will utilise £100,000 of additional Economic Development budget approved through the Outturn Report to support delivery of the Economic Development Delivery Framework and the economic development priorities set out in the Council Plan. The Fund will operate as a competitive grants programme open to businesses, charities, social enterprises and community organisations across the district, providing targeted financial support to projects that contribute to sustainable economic growth and community wealth building. A grants programme was identified by Members as the preferred mechanism for distributing this funding, enabling investment in a range of local projects that align with the Council's strategic objectives and deliver economic benefits for the district.

Decision

To approve the establishment of a new economic development grant programme, the Sustainable Economy Fund, to support the delivery of the Council's Economic Development Delivery Framework by providing financial assistance to projects that contribute to sustainable economic growth, business development, innovation, skills, and community wealth building across the district.

Reasons for the decision

Strategy and Resources Committee, 18 June 2026, Agenda Reports Pack, Item 4.12 (additional £100,000 Economic Development budget allocation) https://stroud.moderngov.co.uk/documents/g1648/Public%20reports%20pack%2018th-Jun-2026%2019.00%20Strategy%20and%20Resources%20Committee.pdf?T=10

Alternative options considered

Option 1 - Directly commission and manage a small number of economic development projects. This was rejected as it would be resource intensive and limit the number of projects supported.
Option 2 - Commission economic research and consultancy on the local economy and key sectors. This was rejected as Members preferred funding that would deliver direct, tangible economic benefits.
Option 3 - Do not establish a grant programme. This was rejected as it would not support delivery of the Economic Development Delivery Framework and Council Plan priorities.