The Heart of the South West Local Enterprise Partnership has welcomed today’s government announcement that several areas in Devon have been recommended for Assisted Area Status (AAS).
Assisted Area Status allows for higher levels of EU funding and more government assistance to support businesses in disadvantaged economies. A total of 9,658 businesses in Devon, Plymouth and Torbay could be set to benefit from this announcement.
The areas recommended for Assisted Area Status include Newton Abbot, Ivybridge, Totnes, Ham ward in Plymouth, several wards in Torbay and Torridge (including Bideford, Torrington and Appledore) and much of North Devon including large parts of Barnstaple and Ilfracombe.
The Heart of the South West Local Enterprise Partnership, which has been been campaigning for several months to secure Assisted Area Status for these areas, warmly welcomed the announcement.
Chief Executive, Chris Garcia, said: “This announcement is great news for our area. Until now, Devon has received much lower amounts of regional aid government assistance than comparable areas in the UK and we are delighted that the Government has agreed to support all our recommendations.
“Inclusion in the Assisted Area Status map has huge benefits for the areas concerned. It permits the granting of addition financial support to both small businesses and large enterprises, enabling them, and the communities they support, to grow and become more prosperous.”
The map is subject to European Commission approval, which is expected by the end of May 2014.
For more information on Assisted Area Status visit https://www.gov.uk/government/consultations/assisted-areas-map-2014-to-2020-stage-2