South Kesteven District Council is considering a proposal to bring key business support and tourism services back in-house under the successful InvestSK brand.
The Council’s Companies Committee has recommended to the Cabinet that responsibility for business support, regeneration and the visitor economy should be brought back in-house.
The new way of working would result in the dissolution of InvestSK Ltd, the Council-owned company set up in 2018 to drive economic growth in the district, although the brand will be retained.
The Director of Growth and Culture, Nicola McCoy-Brown, said: “The relationship between SKDC and InvestSK Ltd has become much stronger throughout the pandemic.
“A strong, dynamic team is in place, who would be transferring to the Council, and we will be retaining the InvestSK brand which people know, recognise and engage with. Put simply, the operation will remain the same, although not as a separate company.”
InvestSK Ltd has played a positive and vital role throughout the pandemic, distributing more than £50m in Government grants to in excess of 3,000 businesses across the district. This work continues with the latest grant allocation of £1.26 million from the Omicron Hospitality and Leisure Grant scheme.
It has also secured millions of pounds-worth of investment for South Kesteven, including £5.5 million from the Future High Streets Fund and £1.2 million from the Heritage Action Zone project, as well as establishing a substantial network of engagement with businesses and business clubs throughout the district.
Nicola said: “This approach will continue to drive inclusive growth and regeneration opportunities right across South Kesteven. Delivering growth of the economy is fundamental to the success of the district, its businesses and residents and this move reflects our ambitions as set out in our adopted Corporate Plan.”
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