Thursday, December 20, 2012

News: LEP calls on businesses to outline their growth plans


The Local Enterprise Partnership (LEP) is calling on Sheffield City Region business leaders to express their interest in being part of their £25m Regional Growth Fund programme.

Businesses with robust plans for growth will have until the end of January 2013 to complete an online form to express their interest in being part of the programme.

The programme secured £25m of the government's Regional Growth Fund (RGF) in October, one of the largest successful programme bids in round three of government fund.

Called "Unlocking Business Investment" the programme will unlock over £100m of direct business investment, leading to further private sector growth across the Sheffield City Region. The footprint of this growth is hoped to be approximately 1,800 sustainable, private sector jobs.

The businesses supported by the programme will mainly be in the advanced manufacturing and technology sectors.

James Newman, chairman of the LEP, said: "This funding will help scores of businesses from across the City Region to achieve their ambitious growth plans.

"Business leaders have until the end of January to let us know about how much they need and what their projects can achieve with the funding."This programme will demonstrate how a small amount of funding can unlock significantly more direct private sector investment – leading to growth and sustainable, private sector employment."

The LEP bid currently comprises of 27 companies, which put forward plans for growth as part of the bidding process. A further £15m is available for suitable projects.

New projects will be assessed on a competitive basis with the criteria for assessment based on the number of new sustainable, private sector jobs created, private sector funding, additionality, eligibility, deliverability and value for money.

Sheffield City Region LEP website


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