Decision details

To consider an opportunity to provide investment in infrastructure and facilities at the Solent Enterprise Zone, Daedalus.

In 2012, the Solent Local Enterprise Partnership (LEP) successfully promoted the Daedalus site as an Enterprise Zone (EZ), with an ambition to become the Solent's premier location for advanced manufacturing. Since then, a significant amount of investment has been made in improving the infrastructure supporting the site, and funding has been secured by Fareham College for a new training facility.

This proposal complements the investment already secured at Daedalus, and would provide for improvements to the airfield, provision of new hangar space and an Innovation Centre for small businesses, together totalling £8.3m.

The proposal has been developed jointly between the Council, the Solent LEP and the Homes and Communities Agency (HCA), but would be led by the Council if it is approved (subject to satisfactory due diligence) and ownership of the two new assets (new hangar space and Innovation Centre) would be vested with the Council.

At the invitation of the Executive Leader, Councillor P W Whittle, JP addressed the Executive on this item.

RESOLVED that the Executive agrees:

(a)       to support the proposal in principle, as set out in the report;

(b)       to delegate authority to the Director of Finance and Resources, following consultation with the Executive Leader to:

(i)            submit a bid to the Solent Growing Places fund by 31^st July to support the bid;

(ii)          conclude negotiations with the other parties to facilitate the construction, as set out in the report; and

(c)       to approve a budget of £50,000 for the project.