Businesses Urged to Bid for Share of £3.2bn
News release
11th October 2013
The Greater Lincolnshire Local Enterprise Partnership (LEP) is urging businesses to bid for the latest round of Government funding to be released from a £3.2 billion pot.
From today (11th October) businesses can make a bid in Round 5 of the Regional Growth Fund (RGF), which supports projects and programmes that are using private sector investment to create growth and employment.
The LEP, a private and public sector partnership covering Lincolnshire, North Lincolnshire and North-East Lincolnshire, is today offering its advice and support to those making a bid. The latest round is worth £300 million.
Ursula Lidbetter MBE, Chair of the Greater Lincolnshire LEP, said “It’s very good news that Greater Lincolnshire businesses are able to benefit from a new round of RGF money. This level of investment will help each of them deliver projects which will boost the local economy.
“Large firms should be looking seriously at this round of funding and considering how it could help them grow. With minimum bids of £1 million, this stage of the RGF is primarily aimed at mid-sized firms, although other schemes such as start-up loans and previous rounds of RGF are still available to smaller operations seeking funding.”
Round 5 of the RGF will focus entirely on private enterprise proposals dealing with high-quality projects that can generate significant private sector investment and create sustainable jobs.
A series of regional roadshows are now being hosted by the Department for Innovation, Business and Skills to help businesses with their applications. The next one for this area will be held on 8thNovember at Apex Court in Nottingham.
Successful bids in the area include £1m for the University of Lincoln and £100,000 of grants from the Growing the Humber RGF programme for KJB Ltd, Signs Express and Lincs Design Consultancy in North East Lincolnshire. North Lincolnshire Council has also allocated around £6.3 million of its £10 million RGF round 2 award to businesses including Moulded Fibre Products, Saxon Quality Foods and Alan Dick Communications.
Application forms for Round 5 are available from today and businesses will have until the closing date of 9thDecember to submit their bids. Any companies that are not ready to apply for Round 5 will be able to apply for Round 6, which will be launched in summer 2014.
Businesses are encouraged to make contact with Greater Lincolnshire LEP for advice and help with submitting a strong bid. Call Kate Storey at the LEP on 01522 550540 or email enquiries@greaterlincolnshirelep.co.uk.
Ends
Notes to Editors:
About the Regional Growth Fund
- The Regional Growth Fund (RGF) is a flexible and competitive £3.2 billion fund operating across England from 2011 to 2017. It supports projects and programmes that are using private sector investment to create economic growth and sustainable employment.
- Round 5 of the Regional Growth Fund opens today (11thOctober) and closes to applications on 9thDecember 2013 at noon. Bids will be appraised as quickly as possible.
- Applicants should be aware of expected changes to the EU State Aid regime from the end of June 2014. This will not have an impact on applications to Round 5 but may have an impact for Round 6.
- To keep up to date on further RGF developments please follow us on Twitter: @RGFGrowthFund
- Since the fund started over 2,700 grants have been given to SMEs through RGF programmes administered by intermediaries such as banks and local enterprise partnerships (LEPs).
- Businesses can find out about their local programmes, and more about how to apply online. These programmes typically have a lower minimum bid threshold which may be more applicable for small to medium enterprises.
About the Greater Lincolnshire LEP
- The Greater Lincolnshire Local Enterprise Partnership is a private and public sector partnership led by the private sector which aims to improve conditions for infrastructure and doing business in the Greater Lincolnshire area.
- One of the first LEPs to be established in the UK, the Greater Lincolnshire LEP covers a large geographical area with a population of over one million and a diverse range of industries, from ports and logistics to farming tourism and engineering.
- It includes North Lincolnshire, North East Lincolnshire and the administrative county of Lincolnshire. It is controlled by a LEP board made up of leading figures in the public and private sector.
- To learn more about the Greater Lincolnshire LEP please visit http://www.greaterlincolnshirelep.co.uk/
Cerri Delaney
Shooting Star PR
01522 528540
07985 143990
cerri@shootingstar-pr.co.uk
www.shootingstar-pr.co.uk
t: @CerriDelaney
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