Thursday, January 8, 2009

News: Objective One leaves legacy for South Yorkshire


The Objective 1 programme for South Yorkshire closed on December 31. Since it was launched in July 2000, Objective 1 has invested £820 million from Europe, which alongside domestic funding has supported more than 250 organisations to deliver over 650 projects. Steve Arnott, Programme Director for Objective 1 said: "We can be justifiably proud of how European investment has contributed to the development of the South Yorkshire economy. Its investments have enriched the economy each year to the extent that £1.3bn extra wealth has been created or safeguarded as a result of the programme’s interventions." The key outputs from Objective One include 11,024 small enterprises assisted (30% over target), 1,312 new businesses created or relocated into South Yorkshire, 29,912 gross new jobs (71% of target) and 24,557 jobs safeguarded (84% of target). Rotherham created 6,567 gross new jobs and safeguarded 5,446. Major developments in the borough have benefited from the fund including the Factory of the Future and the ITC both on the Advanced Manufacturing Park, the Century Park Network Centre in Manvers, RiDO's Moorgate Crofts Business Centre and the corporate events space at Magna. Designated as one of Europe's "phasing in" regions, South Yorkshire will receive European funds up until 2013 through the ERDF programme with Yorkshire and the Humber set to benefit from €583 million from the European Union’s Regional Competitiveness and Employment Objective. The South Yorkshire phasing in region is set to receive €270,041,000.


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