Almost 90% within the money assigned to the Leeds City Region with the European Regional Development Fund (ERDF) has been invested in projects that boost business growth and prepare ever better jobs.
According towards latest figures, 134 million C or 86.5% of your entire Leeds City Region ERDF pot C is allocated or devoted to projects that support firms growing, be a little more efficient or increase productivity.
ERDF funding belongs to the 308 million European Structural and Investment Funds (ESIF) programme, that the Leeds City Region Enterprise Partnership (LEP) launched in 2014.
At the amount of time, the LEP was the 1st local enterprise partnership near your vicinity to file for its ESIF programme.
Projects part-funded through ERDF inside the Leeds City Region include Export for Growth, and that is targeted at companies wanting to develop their international business or get started doing international trade, and also the Stimulating Innovation within the Agri-Food Sector programme, that’s meant to boost science-based innovation inside sector and increase organization investment in agri-food research.
Further ERDF funding is required to make you can find at the beginning of March
Roger Marsh OBE, Leeds City Region Enterprise Partnership (LEP) chair and chair of the Leeds City Region European Structural and Investment Funds Sub-Committee, said: “Investing in projects that deliver business growth is actually a core theme of your LEP with this particular delighted almost 90% of Leeds City Region’s ERDF funding has already been focused on innovative and job-boosting projects.
“Thanks to the grant from ERDF, City Region firms are now getting support to remain most sought after, export easier and reduce their energy bills.
“Further funding remains available and we’re awaiting receiving more bids for projects and prepare jobs, boost the success of local business owners and produce town Region more competitive nationally and internationally.”
The Manufacturing Growth Programme (MGP), delivered by Economic Growth Solutions (EGS) Ltd, received 500,000 of ERDF funding in October 2016. The provides advice and support that will help SMEs grow possesses helped much more than 240 firms within the engineering, food and drink, and construction sectors in Leeds City Region, creating 131 jobs.
David Whiteley, MGP Manufacturing Growth Manager for your Leeds City Region, said: “It is satisfying being at this position using the MGP. We have been diligence that can help manufacturers to build and improve within Leeds City Region.
“We are way ahead of the targets we’ve trying to find ourselves, proving that you’ve got a real appetite from SMEs for targeted business support to help them grow.”
ERDF funding is given because of the Ministry of Housing, Communities and Local Government in partnership with the LEP.
In accessory ERDF, one more 68m from the European Social Fund has additionally committed for projects across Leeds City Region, which support individuals to gain employment and skills and retain work. These settlement is administered by way of the Department for Work and Pensions together with the LEP.
The City Region’s European funding is with regard to the 1 billion Leeds City Region Growth Deal, that your LEP secured in 2014 to transform the area Region economy. This remains to be the largest Growth Deal ever given out to your local enterprise partnership by Government.