Humber businesses are growing and creating new jobs thanks to a £4m grant programme using money secured by the Humber Local Enterprise Partnership from the Government’s Local Growth Fund.
“Growing the Humber” builds on the success of a £30m Regional Growth Fund scheme which has supported more than 190 businesses with grants. The re-launched programme runs until 2017 providing business investment grants to small and medium enterprises in the Humber. The £4m fund is expected to create 275 jobs and leverage an additional £20m in private sector funding.
The programme is designed to help businesses make capital investments that lead directly to to job creation within a year. Projects could include buying equipment and machinery or extending and refurbishing premises to enable a business to grow.
Grants of between £5K and £200K are available. The deadline for completed of grant aided projects is 31 October 2016 and the full value of the grant allocated must be claimed by 31 December 2016.
Applicants who have already been successful now have their projects underway and jobs are already being created. These include:
Kirmington-based Agrimin in North Lincolnshire, which manufactures vitamin and mineral supplements for cattle and sheep. The business had identified new markets and had a number of products in development and awaiting licensing. Agrimin has been awarded £75K to invest in new machines, plant and equipment to increase capacity and productivity.
Springfield Solutions in Hull, a reprographic business specialising in packaging and labeling, which has beens allocated a £75K grant towards the purchase of a new digital press.
DD Fish Suppllies in Grimby, a business that had outgrown its premises and wished to relocate to the Grimsby Seafood Village to enable its entire operation to be located under one roof. The business has been awarded £21K towards the cost of installing cold storage, a chill-room and processing facilities with enhanced IT systems.
Sherwood Plastics in Goole, a manufacturer of tamper-evident security seals for clothing retailers. To enable them to take advantage of a new business opportunity Sherwood has been allocated £32K to invest in a new moulding machine and vacuum conveyor system.
Grant applications are assessed by an Investment Panel of private sector business leaders who between them have knowledge and skills of business management, finance, law and property. David Kilburn of MKM Building Supplies is Chair of the panel and said:
“Growing the Humber has already been successful in helping businesses of all shapes and sizes to make key investments that enable them to grow and employ more people. We are pleased that money from the Government’s Local Growth Fund allows us to continue providing support to businesses that promotes economic growth for the Humber”
There is still plenty of funding available for small and medium size enterprises in the Humber looking to invest in and grow their businesses. If your business has a project for which it is looking for funding and you are interested in applying for a grant, you can find out more by accessing the Humber LEP’s website at www.humberlep.org, calling the Humber LEP on 01482 485260 or emailing email@example.com