GBSLEP announces round four of Growing Places Fund
Please note: The Growing Places Fund programme has now closed for both capital and revenue funding
The Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP) has announced the launch of round four of its Growing Places Fund initiative.
With up to £3m available for this round of the fund, applications are invited from 9 February to 13 March 2015. Support is being offered to ‘oven ready’ infrastructure projects through grants and secured business loans which will directly result in the creation or safeguarding of jobs and the growth of the GBSLEP economy within 2 years.
Rounds one, two and three have so far delivered £20.2m to a range of successful projects including the Advanced Manufacturing Hub Phases 1 to 3, Hoobrook Relief Road Phase 2 in Kidderminster, Women’s Enterprise Hub, Red Carpet Cinema in Barton-under-Needwood and Solihull Town Centre Gateway to name a few. In total, these projects are forecast to create almost 10,000 jobs, more than 1,000 homes and 28,000 sq metres of commercial space in the next 10 years
Paul Heaven, chair of the GBSLEP Growing Places Fund Committee said: “Since its initial launch in 2012, the Growing Places Fund has kick started a number of projects around the GBSLEP region. We have seen a number of successful ventures come to fruition, creating much needed jobs to boost the economy and aid recovery from the recession. The ongoing investment into this fund is helping projects, which have previously been stalled, become a reality and stimulate continued growth in the region.
“I would encourage any parties with a project that requires some additional funding to unlock it to find out more about Growing Places and ensure they get their applications in within the timeframe.”
Those interested in applying for finance via the Growing Places Fund should contact Lesley Edwards, Funding Manager at Birmingham City Council at Lesley.Edwards@birmingham.gov.uk or gbslep.com.
Note to editors: While the fund is open to all sectors, the project must support the LEP’s strategy for growth and sector priorities. There are a number of criteria to be met for an application to be successful and the amount offered depends on the size and the proposed business, the location of the project and the GBSLEP assessment of how much is estimated to be needed for the venture to go ahead. The loans will be provided at a competitive market rate and grants will be offered for up to 30 per cent of the total capital cost.
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