Region to receive £8.6m in boost to job creation
Entrepreneurs in Norfolk and Suffolk looking to grow their businesses are set to receive a funding boost today after the government said it was awarding £8.6m to support the creation of jobs in the region.
Deputy prime minister Nick Clegg has announced that four projects will provisionally receive a slice of the regional growth fund (RGF) cash, which will attract an additional £400m of private sector investment.
Among those are Norwich-based Nwes, regional enterprise agency, which has been allocated up to £3m to provide grants to local businesses in order to create 400 new jobs in Norfolk and Suffolk over the next two years.
Other projects to be funded include Stowmarket-based Bosch Lawn and Garden Ltd as well as schemes in Bedfordshire and Essex.
The conditional allocation of cash is the latest wave of funding which has seen £100m of funds invested in 16 projects in the region since the introduction of RGF in 2010.
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Final details are still to be agreed, but the aim is for projects to get under way in the summer.
The Nwes scheme will be focused within the Future50 project set up by the Eastern Daily Press five years ago to help promote and support entrepreneurial business, which has since been extended into Suffolk and supported by the East Anglian Daily Times.
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Kevin Horne, Nwes, chief executive said: 'This is great news for local entrepreneurs in Norfolk and Suffolk and will enable Nwes to continue to support their growth aspirations within an intensive programme of assistance, including discretionary grants.
'It is an exciting time to be thinking of starting or growing a company and this funding opportunity will ensure Norfolk and Suffolk businesses have access to the very best support available.'
Making the announcement, Mr Clegg said: 'This investment has allowed regional businesses to be more ambitious than ever before and gone a long way in creating a stronger economy.'
Ed Davey, energy and climate change secretary, who will be in Norwich visiting Nwes today, said: 'Our regional growth fund is the catalyst for growth and job creation up and down the country. This £8.6m new investment for the East of England is a real boost for the region and I wish the local organisations every success with their projects.'
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