Investing in Jobs: Economic Development Service Key Performance Indicators

Transcription

1 Economy Committee 1 am, Tuesday 2 November 212 Investing in Jobs: Economic Development Service Key Performance Indicators Item number Report number Wards: All Links Coalition pledges Council outcomes Single Outcome Agreement P7; P15; P16; P17; P28 CO7; CO8; CO9 SO1 Greg Ward Head of Economic Development Contact: Kyle Drummond, Economic Development Officer kyle.drummond@edinburgh.gov.uk Tel:

2 Executive summary Investing in Jobs: Economic Development Service Key Performance Indicators Summary The purpose of this report is to update Committee on the performance of the Economic Development Service (EDS) in delivering the key performance indicators (KPIs) for 212/13 to 214/15 contained in the Council s Economic Strategy. The methodology for measuring the KPIs is detailed in the technical appendix of the Strategy s Operational Plan, as submitted to Economic Development Committee on 26 June 212. All three KPIs are currently ahead of target as measured by a range of inputs on jobs, investment and helping people into work or learning. The performance thus far is encouraging but it is important to keep the targets and measurement methods under review. This will help ensure that the targets are sufficiently challenging and the methodology for measuring progress is robust. The EDS is currently ahead on all three of its KPI targets. A review of the KPIs is proposed for spring 213, by which time the Service will have a firm understanding of how its work is affected by the economic context. This will allow it to make a firm assessment on the appropriateness of the targets. Recommendations To approve a review of the KPI targets, including an assessment of the methodology used to measure performance against them, to be presented to Committee in spring 213. Measures of success The performance of the EDS is measured using three KPIs. The progress of the EDS against these KPIs is set out above. Economy Committee 2 November 212 Page 2 of 7

3 Financial impact The actions and outputs described in this report have been met from within the EDS budget for 212/13. Equalities impact A full Equalities Impact Assessment was carried out on the Economic Strategy in February 212. In line with the Equality Act 21, the Council has a duty to develop equalities outcomes. This performance information will be fed into that process. Sustainability impact There are no sustainability impacts arising from the recommendations in this report. Consultation and engagement There was no consultation or engagement activity required for this report. Background reading / external references Economic Strategy and Economic Development Service Operational Plan and technical appendix. tegy_and_economic_development_service_operational_plan Economy Committee 2 November 212 Page 3 of 7

4 Report Economic Development Service Key Performance Indicators 1. Background 1.1 On 26 June 212, the Council s Economic Development Committee approved an operational plan for the Economic Development Service (EDS) for the period 212/13 to 214/15. The operational plan sets out the role of the EDS in delivering the Council s Economic Strategy. 1.2 The Committee also approved a methodology for measuring the performance of the EDS against three Key Performance Indicators (KPIs) set by the operational plan. 2. Main report 2.1 The Economic Development Service (EDS) has three KPIs for the period 212/13 to 214/15. All three KPIs are currently ahead of target assuming a straight line profile as set out in the technical appendix to the operational plan. The measurement explains that the gross figures are subjected to a very conservative appraisal, taking account of deadweight, displacement and optimism bias. The targets and methods of measuring progress need to be kept under review to ensure that the targets are sufficiently challenging and the measurement methods are robust. It is therefore considered that a review should be carried out by the end of the first year of the operational plan. 2.2 The first KPI is to support the creation and safeguarding of 2, jobs (net) in Edinburgh. Between 1 July 212 and 3 September 212, the EDS supported the creation and safeguarding of 172 jobs (net) in Edinburgh. The EDS has supported the creation and safeguarding of 364 jobs (net) in Edinburgh since 1 April 212. If straight line progress is assumed, the jobs figure could be expected to be standing at 333. It stands at 364 so the EDS is currently ahead of target by 31 jobs. Economy Committee 2 November 212 Page 4 of 7

5 Jobs created and safeguarded by the EDS (1 July 212 to 3 September 212) Source Gross Net Business Gateway New starts Sub-growth pipeline Growth Pipeline Inward investments easyjet Construction jobs bed hotel, Edinburgh Park Loan funds East of Scotland Investment Fund Edinburgh Small Business Loan Fund Total for period (1 Jul 12 3 Sep 12) Previous running total (1 Apr 12 3 Jun 12) New running total (1 Apr 12 3 Sep 12) 1, The second KPI is to support 2 million (net) of physical investment in Edinburgh. Between 1 July 212 and 3 September 212, the EDS supported 5 million (net) of physical investment in Edinburgh. The EDS has supported 73 million (net) pf physical investment in Edinburgh since 1 April 212. If straight line progress is assumed, the investment figure could be expected to be standing at 33.3 million. It stands at 73. million so the EDS is currently ahead of target by 39.7 million. Physical investment supported by the EDS (1 July 212 to 3 September 212) Investment Gross Net 161 bed hotel, Edinburgh Park 8.4 million 5. million Total for period (1 Jul 12 3 Sep 12) 8.4 million 5. million Previous running total (1 Apr 12 3 Jun 12) 85. million 68. million New running total (1 Apr 12 3 Sep 12) 93.4 million 73. million 2.4 The third KPI is to support the movement into work or learning of 6, people. Between 1 July 212 and 3 September 212, the EDS supported 546 people (net) into work or learning. 1 Jobs created by construction projects (measured in person-years) are expressed as permanent job equivalents. 2 Business Gateway jobs figures for 1 April 212 to 3 June 212 have been revised downwards to correct for potential double counting. The old running total figures are therefore lower than the total for period figures reported on 18 September 212. Economy Committee 2 November 212 Page 5 of 7

6 The EDS has supported 1,36 people (net) into work or learning since 1 April 212. If straight line progress is assumed, the figure for movement into work or learning could be expected to be standing at 1,. It stands at 1,36 so the EDS is currently ahead of target by 36 people. Movement into work/learning supported by the EDS (1 July 212 to 3 September 212) Source Gross Net Employability programmes Supported into work Supported into learning Enterprise programmes Business Gateway start-ups by unemployed people Executive Skillsbank placements Total for period (1 Jul 12 3 Sep 12) Previous running total (1 Apr 12 3 Jun 12) New running total (1 Apr 12 3 Sep 12) 1,151 1,36 3. Recommendations 3.1 To approve a review of the KPI targets, including an assessment of the methodology used to measure performance against them, to be presented to Committee in spring 213. Greg Ward Head of Economic Development 3 Employability programme figures for 1 April 212 to 3 June 212 have been revised downwards to correct for some potential double counting. The old running total figures are therefore lower than the total for period figures reported on 18 September 212. Economy Committee 2 November 212 Page 6 of 7

7 4. Links Coalition pledges Council outcomes Single Outcome Agreement P7 - Further develop the Edinburgh Guarantee to improve work prospects for school leavers P15 - Work with public organisations, the private sector and social enterprise to promote Edinburgh to investors P16 - Examine ways to source new funding to support small businesses P17 - Continue efforts to develop the city s gap sites and encourage regeneration P28 - Further strengthen our links with the business community by developing and implementing strategies to promote and protect the economic well being of the city CO7 - Edinburgh draws new investment in development and regeneration CO8 - Edinburgh s economy creates and sustains job opportunities CO9 - Edinburgh residents are able to access job opportunities SO1 - Edinburgh's Economy Delivers increased investment, jobs and opportunities for all Economy Committee 2 November 212 Page 7 of 7