LEP launches funding call

Wednesday, 21st November 2012

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Businesses and organisations are invited to submit expressions of interest to receive financial support to unlock projects to bring economic growth, jobs and new business opportunities.

This round will also consider housing development where there is a “clear link” to economic growth, the LEP said.

The Growing Places Infrastructure Fund is a revolving repayable grant fund which will invest in capital projects where the economic climate has caused them to stall or to help tip the balance with new inward investment proposals that are in the pipeline.

The LEP said it is working to a minimum contribution of around £750,000 for projects, although projects just below that will be considered.

Expressions of interest will be assessed against criteria including a focus on inward investment; stimulating growth within the existing business base; job creation, education and skills; and economic infrastructure, which are the four strategic priorities identified by the LEP.

Three projects from the first round are now in advanced negotiation with contracts expected to be in place by the end of the year.

Paul Johnson, chairman of the LEP Board, said: “I’m delighted that we are able to launch a further round of a scheme that is designed to bring early tangible economic benefit to Wiltshire and Swindon.

“We’re confident that we will again receive some really strong proposals that we can get behind, to drive our local economy forward. The board are determined to achieve early success as we seek to become credible champions of wealth and job creation in our locality, boosting new investment and stimulating new business opportunities.”

The deadline for initial proposals is 11 January and the submissions which best meet the criteria will be put through to the board at its meeting on 16 January. Final investment decisions are expected to be decided in May.

 

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