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Launch of Hull Skills Fund will boost citys economy - 23/11/2006

Hull City Council is launching a £400,000 skills fund at the Octagon Centre on Friday, 24 November. The fund is to help local employers pay for the cost of extra training of their employees.

Almost 50 Small to Medium Enterprise (SME) employers have been invited to attend the launch, where they will receive information on the eligibility criteria, value of funding and details of how to apply.

The fund is designed to deal with issues relating to training, employment and the growth of sustainable small business and the skills in the city. It will provide a great opportunity for business and employees to ensure that they have the right skills to meet the demands of the investment within the city and to boost the economy.

Cllr Andy Sloan, portfolio holder for the city economy, said:
"We believe that support and funding of this type in these key areas is a vital need for all businesses and, in particular, small and medium enterprises.
"This fund is complementary to existing funding arrangements available from bodies such as the Learning and Skills Council. It quite probably makes Hull unique in the level of support provided for employees and employers."

Leader of Hull City Council, Cllr Carl Minns, said:
By helping to empower the workforce with new skills and education we will boost the local economy and improve people's life chances. The fund will also give people the chance to get more rewarding careers and connect them with job opportunities arising from the new development taking place in the city."

To receive money from the fund, employers must be prepared to pay around half the cost of the training, for which options could include going on day release to college, or for trainers to give classes during work time.

The skills fund has been developed in consultation with the Learning and Skills Council, local higher and further education institutions, the Regional Development Agency and the Hull Chamber of Commerce. The aim of the fund is to create a more educated and skilled workforce to be able to compete more efficiently in the global economy.

Elaine James, Head of Skills and Employability, said:
"High performing businesses recognise the importance of investing in the development of both their leadership and management capacity and the skills base of their workforce.

"In Hull that commitment is especially important due to the low skills base of our City. 42% of residents have no qualifications at all, less than 10% half the national average, have higher level skills.

If we are improve the prosperity of the City we need to provide an integrated solution which brings together support for business development with investment in skills. The Skills Fund is evidence of the City Council's commitment to making this happen by levering-in investment in skills from employers and individuals".


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