APPLICATION OF LOCAL AUTHORITY BUSINESS GROWTH INITIATIVE (LABGI) FUNDS

On 7 December 2007 the Executive Member for Policy and Resources allocated a proportion of the Local Authority Business Growth Incentive (LAGBI) grant scheme to three projects that aim to improve quality of life for Hampshire's residents and also agreed the principle of allocating 30% of further LABGI receipts to economic development projects.

The first scheme, which will receive £100,000 funding, is to support village shops. The County Council's Economic Development Office will identify areas of need and make grants available to communities for their village shops.

The Market Towns Partnership will be given £60,000 over the next two years to carry on its important work. The partnership is responsible for carrying out `Healthchecks' for towns and villages that identify ways of improving either the local economy or sense of community.

The Sustainable Business Partnership (SBP) will also receive funding to support its role in engaging businesses in the climate change agenda. The SBP message is that sustainability makes sound business sense and by taking action on their environmental, social and economic impacts businesses can save money by reducing costs, identifying new opportunities and creating new routes to market. This decision is in line with Hampshire County Council's commitment, as part of the Climate Change Commission, to place climate change considerations at the heart of its decision making processes, its policy development, and its operational activities.

These proposals will enhance the quality of place and maximise wellbeing for Hampshire residents and gives the County Council an opportunity to use some of the funds to assist local businesses in our villages and market towns, and to promote sustainable business practices.

T. K. THORNBER, C.B.E.,
Leader.