Business development projects could still benefit from £3million share of funding

Potential business development projects which could create thousands of jobs across Stoke-on-Trent and Staffordshire can still benefit from a £3million share of Government loan funding.

Project leaders are being urged to submit their interest in the Government’s Growing Places Fund allocation through the LEP by October 25.

Successful projects will need to demonstrate that they will generate economic growth in a short space of time with the right infrastructure in place. They will need to show that they are ready to start, will create jobs or housing and provide returns which can be reinvested locally by the LEP, in addition to attracting further private investment. Projects will complement the LEP’s red carpet approach to attracting investment to the area.

Around £8.5million of projects are already being developed and delivered with the assistance of Growing Places Fund loans managed by the Stoke-on-Trent and Staffordshire Local Enterprise Partnership – providing an on-going boost for business and the economy.

LEP chairman Ron Dougan said: “We are urging project leaders to get in touch with us now if they know this funding will make a difference and could get a scheme started relatively quickly. Successful applications will need to demonstrate that they can deliver the very best for our area in terms of growth and jobs.
“The fund centres on stimulating projects which may have been lacking the essential infrastructure such as building development, link roads or other communications.
“It is the LEP’s top priority to see thousands of jobs created and our economy continue to improve. We want to see this £3million make a difference in our area and look forward to seeing submissions which will result in maximum employment potential and further funding created to reinvest in the local economy.”

People can find out more by contacting the Stoke-on-Trent and Staffordshire Business Helpline on 0300 111 8002 or businessenquiries@stokestaffslep.org.uk

Further information about the Growing Places Fund can be found by visiting: http://www.communities.gov.uk/news/corporate/2024658