Regional Growth Fund “Growing the Humber scheme” generating interest across both sides of the Humber
Businesses across the Humber have until midnight on Friday 15 March to submit their expressions of interest to meet the first of the “Growing the Humber” Regional Growth Fund (RGF) deadlines.
The Humber’s £30 million RGF programme was launched in February and the “Growing the Humber” grant can be accessed for a range of projects such as; capital investment in land, buildings and machinery, research and development projects and workforce development.
Businesses across the four Humber authorities can access these funds to support investment and growth plans which will create new jobs and the grant scheme could add an additional £1 for every £4 contributed by applicant businesses.
Businesses on both sides of the estuary are showing real interest in the scheme and we have had a continuous flow of enquires since the scheme was launched in February. Once an expression of interest has been submitted it will be reviewed to check eligibility; eligible projects will be invited to complete a full application which asks for more detail about the project and business.
The “Growing the Humber” programme was awarded to the Humber by the Government’s Regional Growth Fund to unlock the development and growth of the area, create 1,500 direct and 1,450 indirect new jobs, and cement the Humber’s position as the UK’s energy estuary.
The joint bid which was drawn up by the Humber Local Enterprise Partnership (LEP) and North East Lincolnshire Council (NELC), which is the accountable body for the scheme, with support from business leaders and the other Humber local authorities.
Lord Haskins, Chair of the Humber LEP said: “As a result of the four Humber authorities working successfully in partnership with the Humber LEP, there is now a huge opportunity for private sector businesses in the area to access RGF.
“By working hard to secure these funds there is now a fantastic opportunity for companies across the Humber to access this grant, which will ultimately lead to the creation of much needed jobs across the area and enable businesses to develop and grow.”
Councillor Chris Shaw, Leader of North East Lincolnshire Council, said: “We are encouraging businesses to get their expressions of interest forms in to us to enable them to potentially access the funds to accelerate their investment plans. We have had a good response so far for the start of the programme but we want a great response so we urge anyone considering putting a form in to do so or contact the team to have a chat and see how we could assist.”
The Regional Growth Fund (RGF) is a £2.6 billion fund operating across England from 2011 to 2016. It supports projects and programmes that lever private sector investment to create economic growth and sustainable employment.
The first three rounds will generate over £13 billion of private sector investment and create or safeguard over 500,000 jobs. The fourth round of RGF is now open for applications with a further £350 million available in the pot. For more information on how to apply please visit www.gov.uk/understanding-the-regional-growth-fund
For more information about the scheme and the online Expression of Interest Form please see www.humberlep.org or call the Humber LEP on 01482 485260 to find out more.