Since the £3m British Steel Support Fund launched in March 2016 over £1.2m has been granted to five local businesses to create and safeguard jobs.
The Support Fund aims to support North Lincolnshire businesses through grants towards capital investment, training, research and development. It also helps to safeguard jobs in supply chain companies and support the creation of new jobs.
Five grants have been approved already with a further six applications in due diligence for a total of £1m and another six in the programme pipeline for £576,000.
So far the funding has supported the creation and safeguarding of 173 jobs with a further 140 jobs in due diligence and an additional 28 jobs in the project pipeline. This makes the total 341 jobs – exceeding the target of 250 jobs.
Applications have been received from the manufacturing, construction and support service sectors.
Councillor Liz Redfern, chair of the British Steel Support Fund, said: “I am delighted that the British Steel Support Fund is helping to support businesses within the British Steel supply chain and other local businesses. A target was set for 250 jobs to be created and we are well on the way to exceeding this, which is a fantastic achievement. Not only does the funding help create and safeguard jobs, but it gives businesses the opportunity to grow.
“Funding is still available for businesses needing support, so please get in touch and apply for a share of the funding.
“We are fully committed to supporting and helping all businesses across North Lincolnshire in any way we can. We will continue to identify ways of helping businesses reach their potential and develop.”
For more about the British Steel Support Fund contact 01724 297330 or email firstname.lastname@example.org.