News: Rotherham could benefit from Euro millions
Projects that boost growth and jobs in South Yorkshire are set to be able to bid for part of a £300m pot after the European Council agreed the framework for the European Union's 2014-2020 budget.
The EU budget for economic, social and territorial cohesion, at £325bn for seven years, is 8% less than was available for 2007-2013 but will provide significant support for local economic development and regeneration.
EU leaders confirmed that "Transition" regions will form part of the next funding round. This gives a degree of certainty to areas such as South Yorkshire which will qualify for higher levels of funding as a Transition region.
Transitional regions are defined as having GDP between 75 and 90 per cent of the EU average. The remaining areas of Yorkshire and The Humber will qualify for "More Developed" region status.
Yorkshire MEP Linda McAvan said: "It is so important for regions like South Yorkshire to receive Transitional funding from Europe. The last round of European funding in our region was much needed and well spent, bringing jobs, businesses and investment to the area."
The coalition government was against the commission’s proposals for transition regions, stating that they did not believe that they were affordable. Leading the fight for the funding was Wentworth and Dearne MP, John Healey who led a cross-party cross-area delegation to the business minister Michael Fallon in a last ditch bid to get the government to change their stance.
Mr Healey said: "I am glad to say Europe over-ruled government resistance.
“To the end UK ministers opposed this money which will help kick-start South Yorkshire's economy and generate growth that will be multiplied several times over."
Key next steps in England will be the finalisation of the UK's Partnership Agreement and working out the proposed model for the distribution of the funds. This could follow Lord Heseltine's view that Local Enterprise Partnerships should bid into a large single pot to support their local growth strategies and business plans.
South Yorkshire could be expected to spend the money on helping people into work, offering more apprenticeships and training, reducing emissions, building flood defences and helping business to export more and benefit from new technologies.
Recent European Regional Development Fund (ERDF) supported schemes in Rotherham range from enterprise education programme Rotherham Ready to the redevelopment of Rotherham central station.
Current business support initiatives such as RiDO's Soft Landing Zone project and the Chamber's Regional Enterprise Programme are also supported by ERDF.
The EU budget for economic, social and territorial cohesion, at £325bn for seven years, is 8% less than was available for 2007-2013 but will provide significant support for local economic development and regeneration.
EU leaders confirmed that "Transition" regions will form part of the next funding round. This gives a degree of certainty to areas such as South Yorkshire which will qualify for higher levels of funding as a Transition region.
Transitional regions are defined as having GDP between 75 and 90 per cent of the EU average. The remaining areas of Yorkshire and The Humber will qualify for "More Developed" region status.
Yorkshire MEP Linda McAvan said: "It is so important for regions like South Yorkshire to receive Transitional funding from Europe. The last round of European funding in our region was much needed and well spent, bringing jobs, businesses and investment to the area."
The coalition government was against the commission’s proposals for transition regions, stating that they did not believe that they were affordable. Leading the fight for the funding was Wentworth and Dearne MP, John Healey who led a cross-party cross-area delegation to the business minister Michael Fallon in a last ditch bid to get the government to change their stance.
Mr Healey said: "I am glad to say Europe over-ruled government resistance.
“To the end UK ministers opposed this money which will help kick-start South Yorkshire's economy and generate growth that will be multiplied several times over."
Key next steps in England will be the finalisation of the UK's Partnership Agreement and working out the proposed model for the distribution of the funds. This could follow Lord Heseltine's view that Local Enterprise Partnerships should bid into a large single pot to support their local growth strategies and business plans.
South Yorkshire could be expected to spend the money on helping people into work, offering more apprenticeships and training, reducing emissions, building flood defences and helping business to export more and benefit from new technologies.
Recent European Regional Development Fund (ERDF) supported schemes in Rotherham range from enterprise education programme Rotherham Ready to the redevelopment of Rotherham central station.
Current business support initiatives such as RiDO's Soft Landing Zone project and the Chamber's Regional Enterprise Programme are also supported by ERDF.
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