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ERDF Inward Investment Support Grant Scheme

28 May

Applications open from 1st June 2021:

The HotSW LEP ERDF Inward Investment Support Grant Scheme is a £900k fund* designed to boost economic recovery and create new jobs in Devon, Somerset, Plymouth and Torbay. The grants of between £25k-£150k, which require match funding, are for foreign-owned businesses based in the region who are looking to grow, and seeking investment in equipment, infrastructure or new technologies.

Following its successful first round of applications, the HotSW LEP is reopening the fund for further applications on June 1st. Businesses will have until September 10th to apply.

Karl Tucker, chair of HotSW LEP, says: “We are really pleased with the quality of the applications we’ve received from the first round of this grant scheme, which has been created to encourage our locally-based foreign-owned businesses to invest here, creating economic growth and new jobs.

“We’re looking forward to seeing what comes through in this second round of funding and I would urge businesses to get in touch with us to see if they are eligible.”

The grant scheme is open to all eligible ERDF sectors, including Aerospace & Advanced Engineering, Agri-tech/Food and Drink, Environmental Futures, and Marine Industries. The grant must support the purchase of new technology or other equipment which will support the business being more productive.

*This funding is part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government is the Managing Authority for ERDF. Established by the European Union, ERDF funds help local areas stimulate their economic development by investing in projects that will support innovation, businesses, create new jobs and local community regenerations.

To find out more or apply for the fund, contact Carla Modley at email:  [email protected]

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