Let’s Grow North East is a £60 million Regional Growth Fund programme, operated by BE Group in partnership with UNW LLP and The Journal and Middlesbrough Evening Gazette. The programme provides grant support for capital investment and R&D projects that will create new, sustainable jobs in North East England. It provides grant support for business expansion, rationalisation, modernisation and diversification, and is designed to help firms to expand their operations or to set up new establishments in the region.
Let’s Grow is aimed towards manufacturing businesses and service sector businesses offering more than a local service. Grants are available to businesses of all sizes, with higher levels of support available to SMEs. The programme supports investment projects of £200,000 or more which will be completed by 31st March 2017. Projects must meet the eligibility criteria of the programme and are also judged on their levels of impact and value for money.
Let’s Grow offers grants of £50,000 and above. Levels of support range from 10% to 30% of the project expenditure. The level of support offered in each case will be determined by factors including the location of the project, the type of expenditure involved, the size of the company and the level of job creation.
To be successful, applications must:
- Create new, sustainable jobs within the applicant company
- Offer good value for money in terms of value of grant per new job created
- Make a clear case for needing grant support
- Have adequate private sector funding for the project
- Comply with State Aid regulations
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