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10/04/2012 - Thames Valley Berkshire LEP Growing Places Fund - Mark II Version Open
Finance to boost economic growth in the Thames Valley Berkshire area, supporting infrastructure, housing and economic development projects is available through the Thames Valley Berkshire LEP Growing Places Fund.
The objective of the Fund is to stimulate economic activity by:
- Addressing infrastructure and site constraints and promoting the delivery of housing or other developments.
- Improving the communications infrastructure, in particular the availability of broadband services.
- Responding to innovative and creative projects which remove barriers to economic growth or promote jobs.
There is a total of £10.6 million available in the Fund, and the LEP intends to support a mixture of sizes and types of projects within this sum. There are no minimum or maximum limits.
The Fund does not operate as a loan programme in the traditional sense. It is described as 'forward funding', with investments drawn down against claims for eligible expenditure rather than funding being released in full upfront.
The following capital costs can be funded through the programme.
- Acquisition, reclamation, enhancement or laying out of land.
- Acquisition, construction, preparation, enhancement or replacement of roads, buildings and other structures.
- Acquisition, installation or replacement of movable or immovable plant, machinery, apparatus, vehicles or vessels.
In addition, intangible assets can be funded. Examples are software licences, quotas, patents, copyrights, franchises and trademarks.
The scheme is open to businesses, especially small and medium-sized enterprises (SMEs), primarily construction businesses. The business does not necessarily need to be located within the Thames Valley Berkshire area. Any business is eligible, providing its activity helps promote the Thames Valley Berkshire area.
Applications may be submitted at any time and will subject to assessment at periodic panels meetings.
Click here for further details (opens in new window).
Source: Thames Valley Berkshire Local Enterprise Partnership, 05/04/2012
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