Agenda item

To consider a report of the Managing Director, Dorset Innovation Park Ltd.

Please note that Appendix 1 – 2026/27 Dorset Innovation Park Ltd Business Plan, is an exempt document (paragraph 3).

That the Shareholder Committee:

a)    Approve the presented 2026/27 annual business plan for Dorset Innovation Park Ltd, and;

b)    Note the progress made on company development and the transition of responsibilities to Dorset Innovation Park Ltd, and support the continued cooperation between the Council and the Company.

Reason for the decision

Progress continues to be sustained enabling the company to focus on developing a Business Plan and delivering a high-quality innovation park for the benefit of the council, its tenants and wider economic prosperity.

The shareholder committee considered a report of the Managing Director, Dorset Innovation Park Ltd, which provided an update on the current situation at the Dorset Innovation Park Ltd and presented the 2026/27 annual business plan for approval.

The Managing Director provided a presentation at the meeting which included updates since the last meeting of the shareholder committee, an overview of activity contained within the business plan and an overview of required processes, and capital and revenue expenditure required in order to achieve the vision for and operation of the park.

A discussion was held and points were raised in the following areas:

·       The Managing Director provided an overview of his previous experience which would be relevant to the plans for the Dorset Innovation Park

·       Councillors welcomed opportunities to streamline processes in order to progress development of the park

·       The agreement of a site master vision was key for effective working between the innovation park and the council

·       A discussion was held regarding legal input and requirements. The Dorset Council Legal team had been working closely with officers and the company in terms of the set-up processes and would continue to be part of the transition meetings. In addition, the company was putting in place their external legal arrangements. There was confidence that the emerging model would prove effective

·       There was a shared aspiration for the park to succeed and to achieve a turnaround of the financial position, and part of the transition was to ensure that all parties understood and agreed required timescales for objectives

·       A point was raised that there needed to be more balanced information in reporting, to include information about any current issues with the site and tenants. There also needed to be recognition of risks, such as any financial risks, including in relation to future funding by the council

·       In terms of the development of the master vision, there was a request that the income generation of the site be maximised

·       The Managing Director provided an overview of support being provided to tenants, including support to start-up companies and an update could be provided at a future meeting

·       It was noted that regular discussion was held with tenants in terms of addressing any issues

·       The position with aged debt and debt recovery was raised and a request for an item to consider this at the next meeting of the shareholder committee

·       A discussion was held regarding issues around capital required to develop the park

·       Further consideration was required in terms of the local development order and issues around future development of the wider site.

It was proposed by R Biggs seconded by B Wilson

Decision

That the Shareholder Committee:

a)    Approve the presented 2026/27 annual business plan for Dorset Innovation Park Ltd, and;

b)    Note the progress made on company development and the transition of responsibilities to Dorset Innovation Park Ltd, and support the continued cooperation between the Council and the Company.

Reason for the decision

Progress continues to be sustained enabling the company to focus on developing a Business Plan and delivering a high-quality innovation park for the benefit of the council, its tenants and wider economic prosperity.