Agenda item

RESOLVED – That Board Members considered and approved:-

 

1.    Award of £40,000 to company 47 as set out in appendix A.

 

2.    Award of £42,555 to company 46 as set out in appendix B.

 

3.    Award of £35,000 to company 30a as set out in appendix C.

 

4.    Award of £36,584 to company 19 as set out in appendix D.

 

5.    Award of £50,000 to company 40a as set out in appendix E.

 

6.    Award of £89,000 to company 6 as set out in appendix F.

 

7.    Award of £75,000 to company 7 as set out in appendix G.

 

8.    Award of £100,000 to company 4 as set out in appendix H.

 

9.    Award of £32,788 to company 3 as set out in appendix I.

 

10.Award of £100,000 to company 49 as set out in appendix J.

 

11.Award of £99 988 to company 2 as set out in appendix K.

 

12.Award of £100,000 to company 30b as set out in appendix L.

 

13.Award of £100,000 to company 47 as set out in appendix M.

 

14.Delegated authority be given to the Head of Paid Service in consultation with the S73 and Monitoring Officer to enter into legal agreements for the schemes covered in 1-13 above. 

A report was received requesting the approval for 13 schemes with a total value over all years of £900,915 and seeks delegated authority to be given to the Head of Paid Service in consultation with the S73 and Monitoring Officer to enter into legal agreements for the schemes.

 

The following BIF Made Smarter schemes were presented for the Board’s consideration:-

 

BIF Made Smarter Approval – Company Ref. 47, Sheffield

 

A report was received to enable the Board to take a decision whether to support the proposal of a BIF Made Smarter (LGF) grant of £40,000 to a Sheffield based company to create a new data platform prototype to drive new business.

 

The investment will create 3 new jobs which equates to a cost per job of £13,333, considered acceptable value for money for the investment.

 

BIF Made Smarter Approval – Company Ref. 46, Chesterfield

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Made Smarter (LGF) grant of £42,555 to a Chesterfield based company to improve process control utilising electronic sensors and a bespoke software control system. 

 

The company is forecasting cost savings and will create 4 new jobs which equates to a cost per job of £10,639, considered acceptable value for money for the LGF investment.

 

BIF Made Smarter Approval – Company Ref. 30a, Rotherham

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Made Smarter (LGF) grant of £35,000 to a Rotherham based company to install a data integration system to support operational improvements.

 

The project will support winning additional orders and safeguarding 5 jobs which equates to a cost per job of £7,000, considered acceptable value for money for the investment.

 

BIF Made Smarter Approval – Company Ref. 19, Sheffield

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Made Smarter (LGF) grant of £36,584 to a Sheffield based company towards a paperless warehouse management system enabled with WiFi technology to improve efficient stock management.

 

The project is forecast to result in 6 new jobs in 2020.  This would represent a gross cost per job of £6,097, considered acceptable value for money for the investment. 

 

BIF Made Smarter Approval – Company Ref. 40a, Sheffield

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Made Smarter (LGF) grant of £50,000 to a Sheffield based company to invest in specialist robotic equipment to improve the quality of the product, improve consistency and reduce waste.

 

The project will create 2 jobs within 24 months.  This would represent a gross cost per job of £25,000, considered acceptable value for money for the investment. 

 

The following BIF Productivity Challenge schemes were presented for the Board’s consideration:-

 

BIF Productivity Challenge Approval – Company Ref. 6, Chesterfield

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Productivity Challenge (LGF) grant of £89,000 to a Chesterfield based company towards purchasing machinery that will reduce set up time and increase production capacity.

 

The project is estimated to result in an increase in productivity of 199% and create 2 new jobs.  This would represent a gross cost per job of £44,500, which was considered acceptable value for money considering the increase in productivity expected. 

 

BIF Productivity Challenge Approval – Company Ref. 7, Sheffield

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Productivity Challenge (LGF) grant of £75,000 to a Sheffield based company to invest in a digital printing machine to double printing speeds and eliminate material costs.

 

The project will result in a 31% increase in productivity and 4 new jobs created by 2020.  This would represent a gross cost per job of £18,750, considered good value for money. 

 

BIF Productivity Challenge Approval – Company Ref. 4, Barnsley

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Productivity Challenge (LGF) grant of £100,000 to a Barnsley based company to support automation and reduce lead times.

 

The project will result in an increase in productivity of 25% and has indicated it will support safeguarding existing jobs, with GVA per worker forecast to increase form £51,252 to £63,958.  The project will provide acceptable value for money. 

 

BIF Productivity Challenge Approval – Company Ref. 3, Rotherham

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Productivity Challenge (LGF) grant of £32,788 to a Rotherham based company who is looking to develop a new product that will deliver better patient care and user experience. 

 

The project is forecast to result in a 32% increase in productivity and result in 10 new jobs, with a cost per job of £3,279, considered good value for money. 

 

BIF Productivity Challenge Approval – Company Ref. 49, Sheffield

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Productivity Challenge (LGF) grant of £100,000 to a Sheffield based company towards investment in a semi-automated machining cell.

 

The project will result in an estimated 25% increase in productivity, with GVA per worker forecast to increase from £20,680 to £25,773.  The project will provides acceptable value for money. 

 

BIF Productivity Challenge Approval – Company Ref. 2, Sheffield

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Productivity Challenge (LGF) grant of £99,988 to a Sheffield based company to purchase additional equipment to respond efficiently to increased demand.

 

The project is forecast to result in a 15% increase in the company’s productivity and result in 4 jobs, representing a gross cost per job of £24,997.  The project provides acceptable value for money. 

 

BIF Productivity Challenge Approval – Company Ref. 30b, Sheffield

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Productivity Challenge (LGF) grant of £100,000 to a Sheffield based company to invest in equipment to incubate technology related to the aerospace sector. 

 

The project is forecast to result in a 9% increase in productivity and 2 new jobs by 2020, with a cost per job of £50,000.  The project provides moderate value for money. 

 

BIF Productivity Challenge Approval – Company Ref. 40b, Sheffield

 

A report was received to enable the Board to take a decision whether to support the proposal of BIF Productivity Challenge (LGF) grant of £100,000 to a Sheffield based company to purchase a new machine to significantly improve productivity, the quality of products and support growing demand from local businesses and consumers. 

 

The project had been estimated to result in a productivity increase from £25,625 GVA per worker to £33,484 in 2019 and £44,797 in 2021.  

 

The project will also result in the creation of 3 jobs within 12 months of project completion and a further 2 jobs within 24 months of completion.  In total this represents a gross cost per job to of £20,000.  The project provides acceptable value for money. 

 

RESOLVED – That Board Members considered and approved:-

 

1.    Award of £40,000 to company 47 as set out in appendix A.

 

2.    Award of £42,555 to company 46 as set out in appendix B.

 

3.    Award of £35,000 to company 30a as set out in appendix C.

 

4.    Award of £36,584 to company 19 as set out in appendix D.

 

5.    Award of £50,000 to company 40a as set out in appendix E.

 

6.    Award of £89,000 to company 6 as set out in appendix F.

 

7.    Award of £75,000 to company 7 as set out in appendix G.

 

8.    Award of £100,000 to company 4 as set out in appendix H.

 

9.    Award of £32,788 to company 3 as set out in appendix I.

 

10.Award of £100,000 to company 49 as set out in appendix J.

 

11.Award of £99 988 to company 2 as set out in appendix K.

 

12.Award of £100,000 to company 30b as set out in appendix L.

 

13.Award of £100,000 to company 47 as set out in appendix M.

 

14.Delegated authority be given to the Head of Paid Service in consultation with the S73 and Monitoring Officer to enter into legal agreements for the schemes covered in 1-13 above.