Regional Growth Fund Grant Programme
North Lincolnshire Council, working on behalf of the Tata Steel Taskforce, has been successful in securing £10 million of funding from the government’s Regional Growth Fund (RGF). This money will help create at least 500 new jobs in North Lincolnshire through allocating grants to businesses looking to invest in the area.
The programme’s key priorities are to create new businesses; support the expansion, modernisation and diversification of existing businesses located in North Lincolnshire and to encourage new companies to locate to the area. Grants are subject to businesses creating sustainable employment that will last a minimum of three years.
Levels of funding available
The amount of funding available to businesses through the North Lincolnshire RGF will vary depending on size, status and location of the business applying. A member of the Programme Team will be able to advise companies on a case by case basis.
Overall the programme must ensure it maintains an investment ratio of 1:4 which means that for every £1 of RGF invested, applicants must contribute a minimum of £4 towards their Project. Grants are subject to State Aid Regulations which impacts on the amount of grant assistance that is available for businesses. There is a maximum level of grant of £2million; the minimum grant level is £5,000.
Micro businesses (those employing up to 10 employees) and new starts could be eligible for smaller grants of £1,000 to £5,000. This will be administered through a delegated pot of funding.
Eligible activities
The programme is looking to invest under the following strands:
Assisted Area
North Lincolnshire benefits from Assisted Area Status in its Ferry Ward. This means that companies operating in this area are able to access additional support as a result of their location. This is particularly relevant for Large Companies that are largely restricted in the level of aid they are permitted to receive in areas that do not have Assisted Area status.
For more information on all of the above see:
How to Apply
Companies wanting to apply for the Regional Growth Fund must first complete an Initial Registration Form.
This will be used to check eligibility before the Application Stage involving the submission of an Application Form and Business Plan which will be assessed by an independent panel.
RGF Board dates and deadline for submission of full application and business plan
Full applications and business plans must be submitted to the Economic Development team at least 2 weeks before the RGF Board meets.
The independent panel meets monthly to determine grant decisions. The deadline for submitting applications and business plans is two weeks prior to the Board meeting. Meeting dates and submission deadlines are provided in the table below
| Application deadline | RGF Board meeting date |
2 May 2013
| 16 May 2013
|
6 June 2013
| 20 June 2013
|
4 July 2013
| 18 July 2013
|
23 August 2013
|
5 September 2013
|
3 October 2013
|
17 October 2013
|
7 November 2013
|
21 November 2013
|
28 November 2013
|
12 December 2013
|
2 January 2014
|
16 January 2014
|
Please speak to the Economic Development team for advice on completing your application by calling 01724 297330 or emailing regionalgrowthfund@northlincs.gov.uk
RGF Breakfast Briefing 5 December 2012:
Here are the presentation slides from the briefing event held on the 5 December at Forest Pines Hotel.
For further information and advice:
Email regionalgrowthfund@northlincs.gov.uk or call the Economic Development team on 01724 297330.
