The successful Growing the Humber grant programme will now be extended beyond its 2014/15 end date after £4m was secured in the Humber LEP’s Growth Deal.
The £30m Growing the Humber RGF programme has helped more than 80 businesses to expand in the past year with more than 1300 jobs created and more projects in the pipeline. The fund’s investment of £15m has leveraged a further £78m in private sector investment in the region which has had a positive knock-on effect on the local supply chain as well as on communities where buildings have been brought back into use.
There is £2m for 15/16 and £2m for future years, while extra funding has also been agreed to continue the Humber LEP Growth Hub beyond its first year.
The programme is being delivered in partnership with accountable body North East Lincolnshire Council with the Humber LEP’s private sector investment panel giving their time for free to assess the applications.
The scheme recently started allowing bids for smaller grants starting from £5k to help support business as part of the Humber LEP Growth Hub.
The Growth Hub, which was set up after being awarded £2.5m through the City Deal signed in December last year, will also be supported to continue into 2015/16. It aims to simplify access to business support information across the Humber, making it easier for businesses to find what they need.
Chair of the investment panel, David Kilburn, said:
“The Growing the Humber programme has been very successful so far, with more than 80 businesses supported to create more than a 1300 jobs. The extension will enable us to support more businesses to grow in the future.”