Issue - meetings

RESOLVED: that the Board:

1. Supports the governance arrangements and the interventions outlined in Section 2 of this report.

A progress report on the Investment Zone was presented for approval. The report sought approval to a range of governance arrangements and interventions around the Investment Zone.

It was noted that South Yorkshire was announced as the first Investment Zone in July 2023, and that the funding available to the region had since been doubled to £160m over 10 years.

The MCA Board had previously agreed delegated authority to Officers to submit to government proposals on vision, sector, geography and governance. It was expected that a Memorandum of Understanding would soon be submitted to the Board for approval. Members welcomed this progress.

It was noted that the Investment Zone model being followed was not the original low taxation, low regulation model originally announced, but one which would build on growth and the world-leading strengths in South Yorkshire.

Mayor Jones stressed that the success of Gateway East was dependent on the existence of an operational airport on the site. 

RESOLVED: that the Board:

1. Supports the governance arrangements and the interventions outlined in Section 2 of this report.