Almost 90% on the money used on the Leeds City Region with the European Regional Development Fund (ERDF) has been allocated to projects that boost business growth that will create ever better jobs.
According to the latest figures, 134 million C or 86.5% from the entire Leeds City Region ERDF pot C have been allocated or committed to projects that support firms to develop, you have to be efficient or increase productivity.
ERDF funding belongs to the 308 million European Structural and Investment Funds (ESIF) programme, the fact that Leeds City Region Enterprise Partnership (LEP) launched in 2014.
At any time, the LEP was the earliest local enterprise partnership in the nation to launch its ESIF programme.
Projects part-funded through ERDF from the Leeds City Region include Export for Growth, that is aimed at companies looking to develop their international business or get started doing international trade, and also the Stimulating Innovation within the Agri-Food Sector programme, which happens to be built to boost science-based innovation inside sector and increase small company investment in agri-food research.
Further ERDF funding is predicted to be made offered by the beginning of March
Roger Marsh OBE, Leeds City Region Enterprise Partnership (LEP) chair and chair from the Leeds City Region European Structural and Investment Funds Sub-Committee, said: “Investing in projects that deliver business growth is really a core theme from the LEP using this program . delighted almost 90% of Leeds City Region’s ERDF funding had been dedicated to innovative and job-boosting projects.
“Thanks on the grant from ERDF, City Region corporations are now getting support for being more lucrative, export easier and save money on their energy bills.
“Further funding still is available and we’re longing for receiving more bids for projects and produce jobs, increase the success of local business owners and make the location 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 c’s provides advice and support to help you SMEs grow and features helped much more than 240 firms inside the engineering, foods and drinks, and construction sectors in Leeds City Region, creating 131 jobs.
David Whiteley, MGP Manufacturing Growth Manager with the Leeds City Region, said: “It is satisfying for being as of this position when using the MGP. Were working to help manufacturers to build and improve within Leeds City Region.
“We are way killing the targets we’ve got seeking ourselves, proving that you’ve got a real appetite from SMEs for targeted business support to help them grow.”
ERDF funding is administered by way of the Ministry of Housing, Communities and native Government together with the LEP.
In accessory ERDF, an additional 68m from the European Social Fund has been committed for projects across Leeds City Region, which support men and women to gain employment and skills and retain work. These financial resources are administered by way of the Department for Work and Pensions in partnership with the LEP.
The City Region’s European funding was in item the 1 billion Leeds City Region Growth Deal, in which the LEP secured in 2014 to rework the town Region economy. This remains the largest Growth Deal ever given out to your local enterprise partnership by Government.