19 October 2012
Waveney MP Peter Aldous today welcomed the Government’s announcement that the New Anglia Local Enterprise Partnership (LEP) has been successful in a bid for £3 million from the Regional Growth Fund.
The New Anglia Business Growth Fund will create around 500 jobs by offering business growth grants of between £25,000 and £100,000 to small and medium sized businesses (SMEs) in Norwich, Ipswich, Great Yarmouth and Waveney.
The investment grants will be targeted at SMEs in five growth sectors identified by New Anglia LEP’s Sector Growth Strategy – advanced manufacturing, energy, ICT, life sciences, and digital creative, although no sectors will be excluded.
Grants will be offered to a maximum 20 per cent of the value of the expansion project – meaning the fund will lever in at least £12m of private sector funding.
Grants will be allocated by an experienced panel including representatives from Finance East, which operates the East of England Regional Growth Loan fund, and UEA, which operates the Low Carbon Innovation Fund together with business representatives from the LEP board.
Mr Aldous commented on the bid saying:
“The Regional Growth Fund is vital for boosting private sector growth in the Waveney area by supporting businesses and creating more jobs.”
Andy Wood, chairman of the New Anglia Local Enterprise Partnership, said:
“We are delighted that the New Anglia LEP has been successful in securing this funding from the Government in what was a very tough national competition.
“We are starting to show that we can deliver as a LEP and secure funding for our area. We are confident our fund will make a real difference and help businesses in Norwich, Ipswich and Great Yarmouth grow and create more jobs.”
The New Anglia Business Growth Fund will create around 500 jobs by offering business growth grants of between £25,000 and £100,000 to small and medium sized businesses (SMEs) in Norwich, Ipswich, Great Yarmouth and Waveney.
The investment grants will be targeted at SMEs in five growth sectors identified by New Anglia LEP’s Sector Growth Strategy – advanced manufacturing, energy, ICT, life sciences, and digital creative, although no sectors will be excluded.
Grants will be offered to a maximum 20 per cent of the value of the expansion project – meaning the fund will lever in at least £12m of private sector funding.
Grants will be allocated by an experienced panel including representatives from Finance East, which operates the East of England Regional Growth Loan fund, and UEA, which operates the Low Carbon Innovation Fund together with business representatives from the LEP board.
Mr Aldous commented on the bid saying:
“The Regional Growth Fund is vital for boosting private sector growth in the Waveney area by supporting businesses and creating more jobs.”
Andy Wood, chairman of the New Anglia Local Enterprise Partnership, said:
“We are delighted that the New Anglia LEP has been successful in securing this funding from the Government in what was a very tough national competition.
“We are starting to show that we can deliver as a LEP and secure funding for our area. We are confident our fund will make a real difference and help businesses in Norwich, Ipswich and Great Yarmouth grow and create more jobs.”
