Thursday, May 14, 2015

News: Rotherham firms securing funds for growth

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A number of growing Rotherham firms have secured financial backing from the Regional Growth Fund (RGF) via the Sheffield City Region Local Enterprise Partnership (LEP).

The RGF is the Government's main source of funding for economic development and regeneration and forms part of the LEP's Unlocking Business Investment programme, which has seen £32m in central Government funding allocated to the city region.

The programme provides grants of between £25,000 and £2m to support companies using their own funding to make direct business investments that ultimately lead to creating sustainable, private sector jobs. Business investments include capital projects which involve investment in equipment, machinery and tools, or alterations to land and/or premises to meet the needs of the business. Grants can also be used to support new research and development.

According to a list published in The Star, Rotherham firms securing funding via the LEP's programme include:

- AML, the first spin out company from the University of Sheffield's Advanced Manufacturing Research Centre (AMRC) with Boeing
- Blue Tree Design & Print who are moving to new premises at Manvers
- Carillion Energy Services which has a depot at Templeborough
- Connexion 2, the Dinnington firm which recently announced its expansion plans
- CW Fletcher, the aerospace specialist moving into new areas of manufacturing
- ENC Industrial Services, specialists in shot-blasting
- Iceotope, the innovative tech company based on the Advanced Manufacturing Park (AMP)
- Iidea Ltd, a specialist in precision components on the AMP
- KP Snacks Limited, the manufacturer that moved its UK processing site across Rotherham
- Maher, the Brightside alloy firm taking space on the AMP
- Martek Marine, the world leader in the supply of safety and environmental monitoring systems for the shipping industry
- MR Machine Knives, the Dinnington-based designers, manufacturers and suppliers of most machine knife products
- Panel Systems, which has formed a dedicated new CNC Machining & Cutting services division (pictured)
- Pyronix Ltd, the award-winning manufacturer expanding operations at Hellaby
- Raynot Ltd, a specialist welding firm
- Roy Hatfield Ltd, whose Templeborough plant now operates 24/7
- SVM Europe Ltd, the leader in the gift card industry that is expanding its Rotherham location to help meet growing demand
- Swallow GB, the Thurcroft firm that specialises in manufacture and installation of quality timber greenhouses
- Thetford Ltd, the American engineering company that moved its UK site to Manvers in 2012
- Universal Recycling, which announced expansion plans at its Rotherham site and is targeting a turnover of £50m

Chris Scholey, Sheffield City Region Local Enterprise Partnership Board Member, said: "Our LEP programme is really delivering jobs and boosting local businesses. Our programme has so far helped 130 ambitious local businesses from across the City Region to grow which will create 2,500 new jobs.

"Government clearly recognise the effectiveness of our local programme which is why we secured a top-up of £52m as part of our Growth Deal. This will help us to further boost business growth and create a further 3,000 jobs in our City Region."

Last year, it was announced that the Sheffield City Region had secured a £320m Growth Deal from the Government, which will create more than 28,000 jobs and training for 40,000 people.

This was the fifth-largest sum to be secured of the 39 LEPs within the country. As part of the Sheffield City Region Growth Deal, the LEP secured a further funding from Government which will be used to support businesses to invest and grow.

Sheffield City Region LEP website

Images: Panel Systems

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