Growing firms bid for share of £30m

EXPANDING businesses will be invited to bid for a share of £30 million later this week.

The Regional Growth Fund pot received from Government is being opened to bolster private investment and help create more jobs, with a third of it ring-fenced to accelerate the emergence of the offshore wind energy industry on the south bank.

Business and enterprise minister Michael Fallon MP will be in northern Lincolnshire on Friday to launch it.

Humber Local Enterprise Partnership chairman Lord Haskins said: "This is a huge boost to businesses in the Humber and I urge people to come and talk to us to make a quick assessment as to whether this is the right fund for them.

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"We can help businesses present their projects in a way that will maximise their chances of gaining funding and, ultimately, lead to creating jobs here."

The successful application to Westminster was drawn up by the LEP and North East Lincolnshire Council, as previously reported.

It is seen as having the potential to help create nearly 3,000 jobs, leveraging at least a further £125 million in private-sector funding.

One aspect is the £10 million offshore wind and renewable energy supply chain programme to support growth of the supply chain on the south bank, with grants available for key infrastructure, new investment, skills and research and development.

Councillor Chris Shaw, leader of North East Lincolnshire Council (NELC), said: "We very much welcome the £10 million allocated for the renewables sector and see that this part of the programme will cement the role of the south bank within the growing offshore wind industry and create sustainable jobs across the area.

"Through the Regional Growth Fund we will also be able to accelerate investment and we will work with public and private sector partners across the Humber to achieve this in the key industry sectors."

The second strand of the programme is £20 million available for businesses to exploit expansion opportunities.

Grants of £50,000 or more will allow for improvements to property or the purchasing of new plant machinery, research and development and training, subject to tests on sustainable employment and a private investment ratio of £4 for every £1 of grant funding.

Councillor Peter Wheatley, portfolio holder for regeneration and environment at NELC, will also speak at the launch event, taking place at The Baths Hall, in Scunthorpe.

Businesses are welcome to attend. To register e-mail info@humberlep.org. An opportunity exists for appointments to speak with the team. If required, a brief overview of the proposal should be included in the registration.