Worcestershire has been awarded £2.5 million from the Government’s Regional Growth Fund to support local businesses in the county.
Worcestershire County Council is managing the Worcestershire Expansion Programme in partnership with the Worcestershire Local Enterprise Partnership (WLEP). The Programme which will run from April 2014.to March 2015 is anticipated to lever in £7.5 million private investment and create and safeguard 180 jobs.
A Council spokesperson said: “This new money will be a major boost for Worcestershire businesses, particularly those who seek significant levels of investment. The £2.5 million boost to local business will not only safeguard, but also create jobs, keeping Worcestershire ‘Open for Business.”
Peter Pawsey – Executive Chair of Worcestershire LEP, said: “The Worcestershire Expansion Programme will be essential to the Worcestershire LEP’s vision of economic growth by providing the finance for companies to realise their growth potential, create and safeguard jobs and contribute to the development of key sectors in the Worcestershire economy”.
The Worcestershire Expansion Programme is designed to enable companies to realise their growth potential by offering funding for expansion, capital equipment purchase, support for training and research and development to help companies in the county to strengthen their position in the market.
It is forecast that this investment will create and safeguard 180 jobs in the County by March 2016, contributing significantly to increased productivity and growth. Grants are available from £20,000 to up to £1million.
To check for eligibility or for further information, please email firstname.lastname@example.org or phone 0300 123 1440
Applications for Round 1 of the Programme close on 13 June 2014. For Round 2, the closing date is 8 August 2014. It is recommended that businesses apply early to this grant fund as demand is likely to be high. Advice and support on the application process is available from the Project Manager, James Lloyd.