A £6m Nottinghamshire County Council fund to boost economic growth and job creation originally launched in April 2014 has re-opened for business.
So far, around £2.35m of the Nottinghamshire Economic Development Capital Fund (NEDCF) has been awarded to 19 companies.
The projects supported to-date have helped create 269 new jobs and 27 apprenticeships, and have safeguarded a further 446 posts and levered in £17.3m in additional investment from banks, other public funds and businesses.
Businesses – particularly those looking to expand their property or those seeking to purchase new equipment and machinery to support growth – can now apply for the remaining £3.5m available.
Grants of between £20,000 and £250,000 are available to invest in capital projects, provided they can provide evidence to show they will create or secure sustainable jobs. The Fund is now open for applications and the closing date for receipt of completed Stage 1 application forms is 4pm on Monday 25 July 2016.
Councillor Diana Meale, chair of the economic development committee at Nottinghamshire County Council, which created and oversees the NEDCF, said: “Creating jobs and growth in Nottinghamshire is a priority for the County Council, so I’m delighted with the progress made through the fund so far and look forward to it supporting more growth and job creation in the near future.
“With more than half the fund still available, we’re already well on the way to our target of creating 550 new jobs and have already surpassed our aim of safeguarding a further 350 posts.
“I have visited several of the companies we have supported through grants and seen for myself the difference it is making to those firms and the new and existing people who work there.
“In many cases, the NEDCF has been the vital, final element of their funding package, releasing an extra £7 in external investment for every £1 contributed by the fund, which is fantastic news for the local economy”.
For further information or to make an application visit http://www.nottinghamshire.gov.uk/business-employment-and-benefits/business-support/nottinghamshire-economic-development-capital-fund