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Following the Cabinet meeting on Tuesday 17th December 2024, members agreed to the proposal that Opportunity Peterborough Limited, as an external company, is to be wound-up. As I have previously highlighted, this is purely for administrative reasons – as it aligns with the wider CIPFA recommendations regarding PCC-owned companies; as no one is employed by the company; and that in closing the company will generate a saving of approximately £10,000 for the Council.

Opportunity Peterborough has long been the city’s lead for inward investment and economic growth and its work has continued since the small number of staff transferred across to the council in February 2023, to deliver the service in house as part of the wider Growth and Regeneration service. We are now the Council’s Economic Growth and Development team, but we will continue to use the Opportunity Peterborough brand as appropriate, building on its legacy, for activity such as external events and workshops, for inward investment promotion, and for the continued delivery of the Bondholder Network.

We’re looking forward to progressing plans to reinvigorate the Bondholder Network for existing members as well as for prospective members, as well as delivering our new Economic Growth strategy. We will also be working more closely with partners such as the Chambers of Commerce, Peterborough Positive, FSB, and the Cambridgeshire and Peterborough Combined Authority to achieve joint objectives.

Whilst our circumstances may have changed, our mission remains the same – to champion, support and facilitate business growth and economic development across the city and beyond and we look forward to working with you to deliver this mission in 2025.