£7.5m boost extends Green Bridge programme
A business support programme covering the Greater Birmingham area which has already created and safeguarded more than 2,000 jobs is set to be extended after receiving £7.5m from the European Regional Development Fund.
Over the next two years, it is expected the Green Bridge Supply Chain programme will help 160 new and existing local businesses get started or make improvements, creating 275 new jobs and saving a further 250 jobs.
Green Bridge will continue to support existing businesses in the’ green sector’ and those wishing to diversify into that sector by offering funding for investment in new equipment, relocation or expansion into new premises and improvements in systems or processes.
It is available to businesses in the Greater Birmingham & Solihull Local Enterprise Partnership area as well as firms in the Coventry & Warwickshire, Black Country, Worcestershire, Stoke & Staffordshire and Marches LEP areas.
With a total value of £15 million, the programme fund has been established with a grant of £7.5 million from the European Regional Development Fund, which is managed by the Department for Communities and Local Government, and £806,510 from Birmingham City Council, Local Enterprise Partnership partners, Birmingham Chamber of Commerce and Midlands Environmental Business Council.
In addition just under £6.7 million will be provided by businesses taking part in the programme.
Steve Hollis, GBSLEP Deputy Chairman said: “Green Bridge has already made a significant impact with the money we received from the Regional Growth Fund and in just over six months almost all of the £19m originally allocated now committed to helping businesses.
“The ERDF support will enable us to go even further and make even more of a difference.”
Communities Minister Baroness Stowell of Beeston MBE said: “Supporting initiatives that benefit local businesses and in turn create or save jobs is a government priority and I am delighted that we have been able to fund such a worthwhile programme.”
Birmingham City Council, Cabinet member for Development, Jobs and Skills, Councilor Tahir Ali, said: “Following the success of Regional Growth Fund programme, which is forecast to create 1,301 new jobs and safeguard a further 700, I am pleased to announce that the Green Bridge Supply Chain Programme has been offered a further £7.5m from the European Regional Development Fund to support small and medium enterprises across the West Midlands in their transition to the ‘Green Economy’.
“This will make a huge difference to the local and regional economy, creating new jobs and supporting vital green business initiatives such as renewable energy sources and energy efficiency measures.”
To find out more about Green Bridge click here.
