Agenda item

            The Committee considered the undernoted report:

“1.0     Purpose of Report

1.1       To update Committee on the preparations for MIPIM international property showcase, taking place in France from 15 -18 March 2016.

2.0       Recommendations

2.1       The Committee is asked to:

-       Note the report and agree the preparations underway and the delegation from Belfast private sector and BCC. 

-       Note the local event on Investment in Belfast will be on 25 February (venue tbc)

3.0       Key Issues

            Background

3.1       On 18 Sept SP&R agreed Council should lead a city partnership delegation to MIPIM in March 2016. A budget of £60,000 was approved on the understanding there would be equivalent match funding from the private sector.

3.2       MIPIM attracts 20,000 delegates, including 4,500 investors and 1,500 developers. The purpose of the Belfast delegation is to attract investors in the real estate sector. We will achieve this by positioning the City alongside international counterparts; and by presenting investment and development opportunities in a compelling and deliverable manner.

3.3      In addition, MIPIM provides a platform to learn about our peer cities and understand the new methods currently being progressed to ensure cities are competitive.

3.4       A successful event to promote Belfast at MIPIM was held at Victoria Square on 27 November which was followed up with a number of one to one approaches. We now have 18 private sector partners who have agreed to join the City delegation.

3.5       In addition the MIPIM campaign has the support of Ulster University, Queens University, Invest NI, NI Screen and the BBC in helping to promote Belfast as a compelling location for investment and growth.

3.6       The 18 partners include: A&L Goodbody; Belfast Harbour; Bywater Properties; Carillion; CBRE; Deloitte; Kilmona Holdings; Lacuna Developments; Lagans; LSH; McAleer & Rushe; McLaughlin & Harvey; Lotus Group; 16 South; Stelify Media; Titanic Quarter; Todds; Bank of Ireland and Tughans.

3.7       Additional contributions in excess of £125,000 have been secured, which exceeds the minimum match funding target agreed with SP&R.  This demonstrates the seed corn investment placed by the City Council in taking the stand has brought together a strong private sector lead showcase for our City.

3.8       The Belfast narrative for the event will be ‘City of Talent’. This includes talent within specific sectors and in our educational achievement, but also includes a wider narrative of tenacity, innovation and creativity.  The theme for the event will be Let’s talk Belfast; Talent; Tax; Technology with the aim to ensure the key investment messages for Belfast are socialised and embedded in both the real estate and wider business sectors.  In addition a targeted media campaign accompanies the event with coverage secured in the Financial Times (27th January 2016) as well as trade journals and national press.

3.9       The importance of this campaign is to ensure the city is considered alongside its peers for FDI investment and that the unique selling points of Belfast are clearly articulated.

3.10     MC2, a specialist communications management company, are supporting delivery, along with Belfast based Laynon Communications and Ardmore. The event programme is currently being finalised and a working draft available on modern.gov. However, key aspects of the programme include:

·        Three themed days to cover:

 i) Creative industries; to highlight the thriving Creative Sector in Belfast – UU will be presenting on stand on its investment into the city and its international standout of creative industries including digital animation.

 ii) Waterfront cities; Belfast a global port and waterfront city. Presentations on waterfront developments including Titanic Quarter and the Belfast Waterfront.

iii) Financial technology and professional services - Presentations on stand to include Prof M Price from CSIT at QUB, Deloitte Digital and John Healy from Allstate on his Belfast experience of both Citibank and Allstate, as a compelling location for financial business due to talent base and productivity.

·        Showcasing investment opportunities including strategic projects like NE Quarter, Transport Hub, Titanic Quarter, City Quays, Linen Quarter and the Cultural Hub. We also will major on the intention to reduce corporation tax from 20% to 12.5% in 2018 and what have a comparable corporation tax on the island of Ireland could provide.

·        Events with other European partner cities including a specific Waterfront Cities event with Liverpool, Rotterdam, Lisburn, Oslo and Hamburg

·        In addition we are expecting a significant announcement on the success of Belfast at an attractive business location for FDI.

3.11     Bringing together a Belfast business delegation of over 40 professionals across the business and public sector base, with a common aim of ensuring we are creating a legacy for our young and talented population, is a key driver for BCC in ensuring we can all meet the aims and ambitions of the Belfast Agenda. 

3.12     Given the size of the Belfast delegation, the intensive programme and number of speaking engagements, the Chair and Deputy Chair of City Growth and Regeneration Committee (or their nominees), BCC Chief Executive, Directors of Development and Property and Projects, will also be required to attend to participate in the majority of the week’s events programme.  Two support staff will also be required to attend.  Costs will be taken from the overall MIPIM budget, which has been heavily supported by the private sector.

3.13     It is proposed that this will not be a one off event but that 2016 will create a long lasting legacy of true partnership.  The private sector’s commitment to come together was demonstrated in the investment raised, amounting to double the Council’s contribution, and in its determination to ensure Belfast stands shoulder to shoulder with its European peers.

3.14     An event to promote this new partnership and the investment in Belfast will be held from 12-2pm on 25 February (venue tbc).  All members of the committee are invited to attend, with further details to follow.

3.15     Finance and Resource Implications

            A £60,000 contribution from the existing City Centre budget was authorised by SP&R in Sept 2015. Due to financial contributions from partners, the initiative has met the minimum threshold required. There are no further resource implications.”

            The Committee adopted the recommendations.