Providing for Edinburgh's economic growth and prosperity
- Capital Coalition pledges (selected)
- More Capital Coalition pledges
Capital Coalition pledges
"Work with public organisations, private sector and social enterprise to promote Edinburgh to investors"
From April 2012 to September 2016, economic development has supported a gross total of £1.3 billion of physical investment and supported the creation or safeguarding of just over 16,000 (gross) jobs in Edinburgh. The Council’s investment promotion team won ‘Best in FDI’ by the leading publication, the European, in the Global Business Awards 2016 which recognises excellence across international commerce. This was in addition to ‘European FDI City of the Year’, The European 2015/16 and ‘Best mid-sized City of Businesses Friendliness’ Financial Times FDI magazine 2016/17.
"Examine ways to source new funding to support small businesses"
Since 2011 the East of Scotland Investment Fund Limited has provided loans to the value of £534,000 to 13 local businesses. In June 2015 the Fund reached the end of a five year funding agreement with the European Regional Development Fund. Business Gateway continues to direct businesses to a wide variety of funding sources. From June 2015 Capital Credit Union started providing lending to small businesses.
"Continue efforts to develop the city's gap sites and encourage regeneration"
The Edinburgh 12 initiative was introduced by the City of Edinburgh Council in 2013 to provide intensive support for the development of a dozen strategically important sites in Edinburgh. All 12 sites have now made significant progress with construction now underway on eight. The 12 sites collectively are expected to deliver over the five year period from 2013 to 2018.
"Complete the tram project in accordance with current plans"
On 10 December 2015, the Council approved the report ‘Edinburgh Tram Extension – New Steps’ and agreed to extend the tram network north to Newhaven. A project board will be established and documents will be prepared for a procurement process. Currently work is underway to complete the new tram and rail interchange at Gateway Station..
"Keep Lothian Buses in public hands and encourage the improvement of routes and times"
Transport for Edinburgh was established to manage and integrate bus and tram operations, build on the earlier success of Lothian Buses, and strengthen its position. Lothian Buses is improving a number of services and that includes contract for all advertising and some non-advertising bus shelters and improved accessibility to bus stops.
"Work with the Scottish Government to deliver a larger return of business rate receipts as part of the Business Rates Incentivisation Scheme (BRIS)"
A revised scheme was put in place for 2014/15, within-year targets set and indicative targets provided for subsequent years.
"Consult further on the viability and legality of a transient visitor levy"
Discussions to consider additional means to raise revenue in order to protect Edinburgh’s cultural competitiveness are being taken forward as part of the City Deal negotiations with the Scottish Government..
"Set up an independent forum to promote locally owned retail businesses"
Council project staff have collaborated with the many independent local retail and business groups. One of the projects included providing support to town centre traders to deliver successful Christmas Street Festival, and Christmas lights.