The Humber LEP has launched a new business grant programme as the Government confirms funding for projects in Hull and East Yorkshire through its Getting Building Fund.
The Humber LEP’s total allocation of £13.4m will support six projects across Hull and East Yorkshire, including two housing developments in Hull, a new rail innovation centre in Goole and upgraded cycle infrastructure to support access to work.
The first of the six projects gets under way today. Growing Hull and East Yorkshire, supported by £1.5m from the Getting Building Fund, will offer grants to SME businesses that are looking to grow and create jobs.
The new programme, available to eligible SMEs in Hull and the East Riding, builds on the success of the Humber LEP’s Humber-wide Growing the Humber programme – which has invested £35.4m since 2013, leveraging £122m from 442 businesses and supporting the creation of 2,840 jobs.
Whilst retaining the overall focus on job creation and stimulating business investment of previous Growing the Humber programmes, there will be scope for a broader range of interventions that support businesses to make productivity improvements, safeguard jobs and instigate green recovery.
Grants of between £5,000 and £250,000 will be available to SME businesses that are able to demonstrate viability and will contribute to the wider growth of Hull and East Yorkshire. Grants outside these parameters may be considered as an exceptional case. Decisions are made by the Humber LEP’s Investment Panel of local business experts.
Following the confirmation of Government funding today, Growing Hull and East Yorkshire is now open for applications. Further information can be obtained by emailing email@example.com and the Humber Business Growth Hub’s business advisors are available to discuss potential projects.
Minister for Regional Growth and Local Government Simon Clarke MP said: “We want to build back better to fuel a green economic recovery across the country by investing in infrastructure, creating jobs and building the homes people need.
“That is why, we are investing £900 million in shovel-ready projects through our Getting Building Fund, including £1.5m for the Growing Hull and East Yorkshire business grant programme. This funding will unlock homes, create new jobs and deliver investment in commercial and green spaces and a much-needed boost to the local economy.”
Stephen Parnaby OBE, Chair of the Humber LEP, said: “I am delighted that Government has confirmed funding for the projects we put forward, and we will be putting this to good use straight away.
“Growing the Humber was hugely successful in supporting businesses’ growth plans and creating new jobs. Growing Hull and East Yorkshire will continue this invaluable support for growing SMEs, and will also support green businesses and those wanting to become greener, more productive and more efficient.
“This targeted support is especially needed at this time to support businesses in their recovery from the economic impact of coronavirus, providing new or safeguarded employment opportunities while allowing companies to go forward with their business growth plans.
“I look forward to see the full package of housing, business space and transport projects progressing quickly over the coming months.”
The six projects are:
Growing Hull and East Yorkshire (£1.5m allocation): This scheme will offer capital grants to SMEs, focussing on job creation and stimulating investment opportunities.
Hull and East Yorkshire Highways Resilience Programme (£2m allocation): This programme will support road maintenance schemes in Hull and East Yorkshire.
RaisE Business Centre and Innovation Hub (£1m allocation): The RaisE Business Centre and Innovation Hub will be adjacent to the Siemens Mobility train factory on the Goole 36 Enterprise Zone..
Delivering Housing Growth Programme – Ings and Wawne 2 – (£4.8m allocation): A new spine road and electrics in Ings could see a further 310 homes built on location sooner than expected, while in Wawne a further 850 homes could be built sooner than expected with the installation of a new spine road and drainage.
Hull & East Yorkshire Cycle Route Delivery Programme – Phase 1 (£2.7m allocation): A programme of cycle infrastructure upgrade and provision of new cycle facilities which will focus on provision in Hull and East Riding along Beverley Road (A1079) and the route from Cottingham to the City Centre.
Managed Workspace Programme (£1m allocation): A package of new and improved managed workspace offers to meet demand and stimulate economic recovery in Hull and East Riding.