Minutes:
E.83/21
Whilst elements of the published agenda report were considered to be defined as ‘exempt information’ in accordance with paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972, the lead Executive Member considered that, in line with the openness and transparency agenda, it was his intention to present his introduction in the public domain.
In so doing, the lead Member informed that:
- The Freeport sought to create three tax sites at Langage, Sherford and South Yard as well as customs sites at Sherford and Langage. The tax and customs rules provided direct financial benefits to the businesses that located in the Freeport, thereby accelerating uptake;
- The Freeport would receive £25 million in Government seed funding, which would be match funded by the public or private sector;
- The monies would be spent on an innovation hub in South Yard and infrastructure and land at Langage and Sherford resulting in the sites being ‘market ready’ for uptake by businesses;
- The initiative was designed to build and occupy premises and create high value jobs. The key sectors targeted were: Marine; Defence; Manufacturing and low carbon and the vision for the Freeport was not one of high volume, low value containerised goods but of high tech manufacturing, defence logistics and innovation;
- Should the Freeport bid be successful, it would result in the creation of 3,500 jobs and over £280 million in investment by the private and public sectors;
- Langage (which had stalled for over 15 years) would be progressed with the further benefits of active travel infrastructure being built at Deep Lane Junction and the regional Ministry Of Defence capacity requirements being secured;
- With regard to public sector investment, this matter would be considered at a future meeting. However, the lead Member stated that the Freeport would require investment from the public sector family (Plymouth City Council; Devon County Council; and South Hams District Council) to make the initiative work. Whilst the exact amount to be borrowed by the Council remained to be determined, it was likely to be in the order of £5 million.
At this point, it was PROPOSED and SECONDED and when put to the vote declared CARRIED:
‘That in accordance with Section 100(A)(4) of the Local Government Act 1972, the public and press be excluded from the meeting during consideration of the following items of business as the likely disclosure of exempt information as defined in paragraph 3 of Schedule 12A to the Act is involved.’
The importance of all Members being fully informed of the key issues related to the scheme before any investment decisions were to be made was recognised and a commitment was made for Member Briefings to be scheduled into the Member Meeting Calendar.
It was then:
RESOLVED
That the update report be noted.
(NOTE: THESE DECISIONS, WITH THE EXCEPTION OF MINUTE E.79/21 (WHICH IS A RECOMMENDATION TO THE COUNCIL MEETING TO BE HELD ON 10 FEBRUARY 2022) WILL BECOME EFFECTIVE FROM 5.00PM ON MONDAY, 7 FEBRUARY 2022 UNLESS CALLED IN, IN ACCORDANCE WITH SCRUTINY PROCEDURE RULE 18).