North Devon+ has announced a further six businesses to receive awards totalling almost £533,000 through its Unlocking Business Investment programme today. To date a total of nearly one million pounds has been awarded with 118 jobs to be created before March 2019.
The £5million scheme, open to businesses across Devon, Plymouth, Somerset and Torbay provides grants of between £25,000 and £499,000 to businesses with firm plans for expansion, which just need to unlock the finance to make it happen. The grants must be match funded from private and/or commercial sources with a key output of new jobs created.
The successful companies coming from across the Heart of the South West area include Hydraulic Projects Ltd (Dawlish), Forever England (Somerset), The Bay Tree Food Company Ltd (Ivybridge), Fraser Anti-Static Techniques Ltd (Bampton), EFFECT Photonics (Brixham) and Management Systems Modelling Ltd (Exeter).
In this round of successful businesses, funding will be used to invest in machinery for new product development, relocating and bringing back manufacturing to the local area, improving and upgrading production lines and building an extension to improve production efficiency.
North Devon+ awarded funding in September last year developed the Unlocking Business Investment programme in partnership with Plymouth University’s GAIN Team, North Devon Council and Torridge District Councils.
Supported by the Heart of the West Local Enterprise Partnership and funded through the Regional Growth Fund, the scheme is designed to stimulate private sector investment to create economic growth and sustainable jobs.
The Unlocking Business Investment programme is open to businesses now. Please contact ubi@northdevonplus.co.uk – for more information.
