Decision details

The purpose of this report is to update Members on progress with the Daedalus Investment project.

In July 2013, the Executive supported a proposal to develop an Innovation Centre for new start up businesses at the Solent Enterprise Zone, undertake improvements to the airfield and develop new hangar space. In October 2013, the Executive agreed revised funding arrangements for the project and in November 2013 agreed a governance and decision-making structure and the establishment of a Member Working Group to oversee the project.

The project contained some very challenging timescales, principally the requirement to complete the Innovation Centre by the end of March 2015. This aspect of the project is progressing extremely well.  Planning consent was granted on 26 March 2014 and site preparation works commenced on 12 May.  Construction work on the site commenced on 2 June and the completion date is programmed for early March 2015. A procurement process is currently under way with a view to appointing an operator for the centre during the summer of 2014.

The work to improve the runway is still planned to commence during September 2014 and be complete by the end of November 2014.  This will minimise disruption to planned airfield activities during the summer months. The specification for the works is intended to enable the airfield operator to obtain a CAA licence which will enhance its commercial potential.

Work has been ongoing with the Homes and Communities Agency (HCA) to identify a suitable location on the airfield for the development of new hangar space.  This is dependent on agreement of an overall strategy for the airfield between the HCA, FBC and other interested parties including Hampshire County Council (HCC), the Solent Local Enterprise Partnership (SLEP) and the airfield operator.  As a result it is now likely that new hangar space will be delivered during the latter half of 2015.

RESOLVED that the Executive notes the progress made to date on the Daedalus Investment Project.