Reasons for the Decision – To consider proposals to unlock a 43-hectare (gross) employment site at Chatterley Valley which could generate around 1,700 jobs (depending on the nature of the end users), Gross Value-Added Benefits of £67 million per annum and £60 million of private sector investment.

Decision – (a) That Cabinet agrees to part fund the construction of the infrastructure to unlock the site, addressing the viability gap with the developer, Harworth Group, using prudential borrowing of up to £3.5 million on the basis of the most reasonable financial case scenario set out in the report, noting that the payback of business rates, through the Enterprise Zone designation, will be secured against the development of a speculative building to be developed out by Harworth Group.

(b) That investment by Staffordshire County Council is conditional on agreeing a Business Rates agreement with the Stoke-on-Trent and Staffordshire Local Enterprise Partnership to secure payback of the investment at the earliest opportunity. (The decision regarding the funding of the investment from future Enterprise Zone business rates is scheduled to be considered by the SSLEP Executive Board on 16^th December 2021.)

(c) That authority be given to the Deputy Leader and Cabinet Member for Economy and Skills, in consultation with the Directors for Economy, Infrastructure and Skills and Corporate Services, to enter into relevant contractual arrangements pursuant to the delivery of the Chatterley Valley West Development Site.

(d) That authority be delegated to the Director of Economy, Infrastructure & Skills to approve and agree the details of and enter into Section 278 highways works contracts required to bring forward the site noting that £3.682m of Kidsgrove Town Deal funding has been allocated to these works.