Signing today’s Growth Deal enables the Humber Local Enterprise Partnership to continue offering funding to local businesses through its “Growing the Humber” programme.
The Deal, signed off by Minister for Universities, Science and Cities Rt Hon Greg Clark MP and representatives of the Humber LEP, provides an additional £4M allocated to help small and medium enterprises in the four Humber local authorities by offering grants to help them develop their operations.
“Growing the Humber” was originally funded through the Government’s Regional Growth Fund. The current £20M pan-Humber fund is supporting nearly 200 businesses and is leveraging over £120m of private sector funding. In terms of job creation, 1,943 jobs will be created which is almost twice as many as predicted.
“Growing the Humber” has supported companies such as
- Rofin Sinar in Hessle, who are building a new factory to expand their high-tech laser business
- Ultimate Packaging in Grimsby, who are investing in Research and Development to improve the shelf life of fresh produce
- The BioD company in Hull, who are adding a new production line to their business producing environmentally friendly cleaning products
- Wold Top Brewery near Driffield, who are doubling their brewing capacity
The programme is delivered in partnership with North East Lincolnshire Council serving as the accountable body, and members of the Humber LEP’s private sector Investment Panel volunteer their time to assess the applications.
Announcing the start of a new application procedure for funding, Lord Haskins, Chair of the Humber LEP said “Signing today’s Growth Deal gives us the green light to invite small and medium sized businesses, which are the life blood of local economies, to apply for grant funding. Our current scheme has been a remarkable success, so I am very pleased that we are able to continue it with support from the Local Growth Fund.”