New Anglia LEP reveals further £500,000 funding pot for Norfolk and Suffolk revenue projects

Welding student at the College of West Anglia. PHOTO; Matthew Usher

Welding student at the College of West Anglia. PHOTO; Matthew Usher

Archant © 2009

Just a week after announcing a £19m fund for Norfolk and Suffolk businesses, the New Anglia LEP has announced it has a further £500,000 to invest in revenue projects in the region.

Unlike the £19m pot, which was part of a Growth Deal with central government, the £500,000 has been raised by business rates generated on LEP’s Norfolk and Suffolk Enterprise Zones.

This is the first time the LEP has ventured into revenue projects, with Chris Starkie, chief executive of the LEP, saying: “We’re looking to provide revenue funding for innovative projects which can punch above their weight, helping to deliver the aims of the Economic Strategy and supercharge economic growth.”

How the money will be allocated is yet to be decided, and is open to businesses of all industries as long as they can prove the investment is good value for money, creates an additional skill or service to the ‘normal business’ of a company, is sustainable, and fits with the economic strategy.

Interested organisations should contact to request an application form.

The deadline for applications is December 21.

Project appraisals will take place in January and February 2019, with the announcement of successful projects anticipated to take place in early April 2019.

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