Overall outcome relates to business growth leading to additional jobs in the BG POP2 POP5

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1 Investment Framework -Playing our Part project interfaces Committing our resources Maximising Luton s opportunities through London Luton Airport Creating a self-sustaining fund to enable future investment POP 1 Business incentive scheme kick starting investment Laura Church Investment Framework Working with local Luton based initiatives and also with SEMLEP, establish a range of business incentives that galvinises growth in Luton s businesses and the wider region. Overall outcome relates to business growth leading to additional jobs in the BG POP2 POP5 Lobbying campaign to DCLG for Cambridgeshire model of business rate Business rate retention pilot agreed. economy. retention Establish an investment and development fund from pooled additional business rates (brought into LBC revenue as a result of accelerated investment) that can then be invested to provide a series of business incentives focussed on supporting growth initiatives Lobby Central Government to retain their 50% of Business rates revenue to enlarge the investment pot and accelerate further growth. Increased access by Luton businesses of national and regional funding schemes. (Proxy measure of access to SEMLEP business advice) Business Growth Incentive Business funding portal on Additional business rate retention or additional Review of business incentives offered by other local authorities to develop appropriate offer to Luton to be agreed by Executive. Additional promotion of national and regional schemes Establishment of performance measures Grant and business incentives available by Promotion of business incentive schemes and access including at business brealkfasts, website and one-to-one business engagement. BCS Service Plan tbd

2 LBC website LLAL Business Start Up grant WENTA start-up support on-line One-to-one business engagement meetings funding for incentives Business bid/application writing resource SEMLEP and nationally APPENDIX B

3 POP 2 Business focused resource as growth ambassador to Luton 10 new key businesses Laura Church Investment Framework Attracting 10 new large businesses is a key step in achieving the vision set out in the Investment Framework. Working alongside marketing resources for Butterfield Technology Park, we will provide additional business focused resource that will market Luton as a place for business growth direct to companies that are needing to locate their business or that have growth plans that match the ambition for Luton. Working with developers, we will attract key employers that provide good jobs for Luton. We will work alongside existing employers to understand their supply chain and identify opportunities for business growth that would strengthen Luton s workforce opportunities. We will lever our assets and work with our business partners and the University of Bedfordshire to strengthen our vision to become an innovation leader in technology, aviation, and in health and wellbeing.. 10 large new businesses BG and POP1 Supply chain mapping for key growth sectors including London Luton Airport, Vauxhall, aerospace and engineering. Meet the buyer event for engineering sector Inward investment campaigns focused on key sectors and key potential Further development of red carpet programme for businesses Meet the buyer event for other sector. Update of Think Luton website Establish partnership with agents Meet the buyer public BCS Service Plan sector Research budget for Meet the buyer with LTN supply chain mapping LLAL/LLAOL Think Luton website UKTI Inward investment Funding for 3 rd party Development industry

4 promotion contractor and agents POP 3 Develop Think Luton brand across LBC and promote branding and image of Luton building business and building social cohesion Nicola Perry and Colin Chick Investment Framework Having a positive image of Luton as a successful place to do business and as a vibrant and harmonious place to live, work and thrive is important to underpinning Luton s image. The successful Think Luton brand has been agreed as the base of branding moving forward. Using the Think Luton brand we will work with partners and business networks to grow this as a brand for Luton more widely. Internal and external perceptions of Luton have improved significantly across different groups residents, business community (as measured by quantitative survey work) For example: All tasks - effective delivery and outcomes = positive perceptions and a strong reputation. Desktop research followed by primary research (if required) to obtain baseline data and reflect on Think Luton brand. Yr 2-3 communications plan developed and costed Full implementation phase. Town wide impact. Monitoring and evaluation We will cement the Think Luton brand within the Council s positioning in relation to its aspirations. We will have a unified approach to marketing and will invest in provide additional marketing and branding resources to collaborate with residents, businesses and partners as well as the BID team in promoting a positive image of Luton as a place to live, work and invest. Branding will co-ordinate with the branding of the airport and for Luton as a destination for business, education and culture. Initial feasibility work will identify how best Businesses inside Luton see the Council as partner and champion for growth and investment Businesses outside Luton see the benefits of Luton as a place to invest and act Communities in Luton see the Council as improving their quality of life and prospects Young people see opportunities available to them and feel supported Agree audiences Business, Communities, Young People, Partners etc Commission photography of images of Luton, and build library Identifying the narrative key messages and USPs Communications and brand strategy produced Audience analysis, media habits, build

5 to deliver a package of marketing and promotional support that will be extensive. in accessing them Partners feel part of a collaborative approach to championing Luton as a place to work, love and visit media relations Messages and tactics, conversation programme Visual identity and rollout programme Digital engagement National and trade media plan Luton employees Costings Delivery: Telling the Luton Story Visual impact rollout Monitoring and evaluation Campaigns Work with partners to embed Think Luton as a town-wide brand. MJ Supplement Further financial TBC but See above. Year One plan

6 Assess LBC Economic Development branding ideas Investment Framework carry forward funding LBC Communications resources (staff) Sponsorship resources LBC Consultation and Research Teams Review / revisit Perceptions of Luton survey Social media accounts Love Luton partners Support from East of England LGA resources to be determined once communications and campaign plans have been produced would include investment from key public and vol sector partners, university, colleges, businesses, LLAL, Love Luton, Luton in Harmony to be produced June 2015.

7 POP 4 Develop bid support for increasing access by the voluntary sector and businesses to funding sources that support Luton s vision Laura Church/Mike McMahon Investment Framework This project looks at co-ordinating existing resources and additional resources if necessary to provide expert help directly to businesses and to the third sector in order to support the development of bids to regional, national or European Funding, and charitable funding such as Big Lottery funds that can be used to deliver Luton s vision. The project will create capacity within organisations and within the not-for-profit sector. Project feasibility will include looking at the production of templates for bid writing for the voluntary sector and the creation of a bidding bible with core elements.

8 POP 5 Establish a Luton Social Investment Fund modelled on payment by results Fiona McGlone Investment Framework Using central government Treasury initiatives and advantageous accounting allowances, we will look to establish a Luton Social Investment Fund drawn from social investment monies, cabinet grant monies and seed funding through Invest to Accelerate funds. The Social Investment Fund would invest in initiatives that can demonstrate a Payment by Result return on the investment. Investments would be made in projects that provided generational change in Luton s population and would be focussed on providing social investment funding that supported the overall delivery of Luton s vision. We would also seek to co-ordinate centrally applications for more than 500k for Social Investment Bonds that are being made on behalf of the Council ( or partners should they choose to do so) in order to ensure that we have the largest impact levered within any such bid. Access to 2m of additional funding through Central Govt and lottery initiatives to support service development aimed at reducing low volume high cost service demand in key social service and welfare areas. The creation of a responsive Luton based investment bond that enables Luton based businesses and partners to make a return through social investment in services including third sector, that address generational changes in areas that matter most to them in Luton. Reduction in service demand as a direct result of intervention to be Submission of Expression of Interest and successful application for 150m Development Grant to establish SIB opportunities for Luton Set up a 1.4m Cabinet funded Social Investment Bond for 40 young people a year in Luton at the edge of Care and Welfare projects Establish a payment mechanism for Luton Investors to agree a pooled social investment approach to key social projects for Luton communities. Feasibility study into Receive Payment by Results income through using LBC or LLAL income matched to SIB to reach 70% of anticipated investment value. An increase in take-up of social investment opportunities by Luton based businesses with 100% increase in the number of companies involved.

9 identified in relation to those areas for which a payment by result or social impact bond is agreed.. areas where PBR is most achievable APPENDIX B 15k from invest to accelerate savings already secured to meet the cost of Specialist SIB consultant TBA C&L and C&TS resources working on social initiatives together with IF resource 150k of Development Fund from Cabinet office/big Lottery to undertake full evaluation and modelling

10 POP 6 Maximise opportunities through the development of London Luton Airport as an asset driving economic growth and in the provision of its community programmes Robin Porter Investment Framework London Luton Airport is a crucial, locally owned asset that plays a significant part in the economic balance of Luton and in the region. BG2, BG3 &BG The Strategic Business Case It is vital that the long term position of the airport remains relevant as a key part of the South East aviation market. A series of projects look at how to continue to build the future of the London Luton Airport and to increase its position in the aviation market place and to continue to attract new operators and build its future. The projects currently underway (see interdependencies) will deliver developments and improvements to underpin growth in passenger numbers to 18 million passengers per annum, underpin further growth and help sustain the long term future position of the Airport. The Aena Masterplan for the new and extended facilities necessary to enable and service passenger growth beyond 18 million passengers per annum. Associated feasibility work Programme Initiation Document Preliminary programme /project preparation and planning milestones As defined in the proformas for the existing projects (see interdependencies) Responsibility (LLAL/LLAOL/Joint) will be determined in developing the Strategic Business Case & the Will be determined in the Strategic/Outline Business Cases 2015 & 2016 : programme feasibility & planning and

11 consequent call on LBC resources will be defined in the Outline Business Case(s) It is most likely that resource will be required from LBC: Strategic Business Case Preparation 2017 Programme & project(s) initiation. Asset Management Finance Legal Procurement