Council in the money

Council bosses in Lichfield are celebrating a £695,247 cash injection.

Lichfield District Council has been awarded the cash boost by the Local Authority Business Growth Incentive Scheme (LABGI).

This sees councils, which have encouraged business growth in their area, receiving an unringfenced reward from government.

It is the second year of a three-year scheme which is set to see up to £1 billion allocated to local authorities by 2007/08.

Elsewhere, Stafford has been awarded £1,678,583; South Staffordshire £420,861 and Tamworth £386,571 but Cannock has missed out on the cash.

Councillor Colin Greatorex, the cabinet member for finance, revenues and benefits at Lichfield District Council, said: "We are delighted to receive this grant from the Local Authority Business Growth Incentive Scheme as it reflects how attractive Lichfield district has become to businesses.

"The amount is in line with our projections and proportional to the growing number of new business premises being built within our district."

LABGI delivers financial rewards directly to local authorities which promote the greatest levels of continued economic growth in their local areas by allowing them to retain increases in revenue derived from business rates.

The scheme encourages local authorities to build partnerships with local business and promote long-term economic sustainability in their areas.