14 LGF Investment Approvals PDF 172 KB
Additional documents:
Decision:
RESOLVED, that the MCA:
Minutes:
A report was received requesting the approval of an LGF grant value to the Sheffield College and to provide an update on investment decisions taken by the Executive Boards.
It was noted an additional scheme which was due to be considered at the meeting had been withdrawn and its case would now be heard at the Skills and Employability Board.
Members were informed the Sheffield College have requested £3.71m LGF grant to support a £4.64m scheme to work in collaboration with the private sector to develop skills training capacity at the College’s Olive Grove engineering training centre, the Liberty Speciality Steel engineering training centre and the CTL workplace training facility.
It was reported the refurbishment and new equipment will be required to increase the technical training offer at levels 3 and 4 in the Engineering and Digital Technology sectors to ensure that there is a skilled workforce to fill the increasing number of high value jobs in the Region.
It was reported over a period of 10 years the project is estimated to support 2,051 learners gross additional with an estimated 826 of the net additional learners moving into employment, subsequently indicating a potential cost equivalent of £4,496 per job, considered good value for money for the SCR.
Members were asked to note the conditions of award including stipulations regarding kit ownership and maintenance.
Members were also asked to note that the decision taken at the Business Growth Executive Board to award four LGF BIF grants totalling £0.488m, to award five Made Smarter LGF BIF grants totalling £0.204m and eight Productivity Challenge LGF BIF grants totalling £0.697m to businesses.
RESOLVED, that the MCA: