New £17.5m fund for businesses

NEWS: The Gainsborough Standard
NEWS: The Gainsborough Standard

A new Government supported funding programme will provide £17.5m in financial support to more than 100 East Midlands based businesses looking to grow and invest in innovation.

Three East Midlands Local Enterprise Partnerships are working together with economic development company East Midlands Business to deliver the projects.

It is supported by Government with almost £7 million being contributed by the European Regional Development Fund and an additional £10.5m from the Regional Growth Fund.

Communities minister Baroness Hanham said the main aim was to support local communities, people and businesses.

“This programme will help to create jobs, while providing critical financial support to companies looking to expand their businesses,” she said.

”To achieve local growth and improve the economy we must support those businesses that play such a crucial role in making this happen.”

“The importance of this approach is recognised by the level of government funding and the collective relationship of a number of Local Enterprise Partnerships committed to delivering this support.”

Stephen Smith, chief executive of East Midlands Business, added: “We are excited to be working with three Local Enterprise Partnerships to stimulate business growth, encourage innovation and create new jobs.”

“This funding will enable companies to unlock key investment projects and achieve their growth ambitions.”

To find out more about the programme, call Danielle Gillett at EMB on 0116 240 5200 or e-mail