Norfolk Chamber welcomes the news that the New Anglia Local Enterprise Partnership will be helping to create at least 1,000 new private sector jobs after securing £9m from the Government’s Regional Growth Fund.
The cash will be used to massively expand the LEP’s Growing Business Fund, which offers grants for business expansion of between £25,000 and £100,000.
The scheme was established after the LEP secured £3m from a previous round of the Regional Growth Fund. Now the fund will have £12m to distribute to firms across Suffolk and Norfolk.
The current Growing Business Fund is currently restricted to businesses within Greater Norwich, Greater Ipswich, Great Yarmouth and Waveney areas.
However, the additional funding will enable the scheme to be expanded across the entire LEP area – the counties of Norfolk and Suffolk. Dozens more businesses will be able to benefit from the scheme, which now has a target of creating at least 1,000 jobs.
Following today’s announcement (Wednesday) the LEP will begin a period of finalising contract terms with the Government, with the provisional allocation expected by early autumn.
More details on the existing Growing Business Fund can be found at https://www.newanglia.co.uk/Activities/Growing-Business-Fund
