Grants of £25,000 – £150,000 are now available for foreign owned businesses.
The inward investment support grant scheme has been designed to deliver investment for foreign owned businesses based in Devon, Plymouth, Somerset and Torbay. It aims to create jobs in the region, and funds are available for both capital and revenue investments. Funding could pay for items such as machinery, fixtures and business accommodation, or digital marketing, IT systems and quality management.
Who is eligible?
- Small Medium Enterprises (less than 250 employees and a turnover less than €50m/annual balance sheet less than €43m)
- Newly landed and existing foreign owned businesses based in Devon, Plymouth, Somerset or Torbay
- Open to all ERDF (European Regional Development Fund) sectors, including Aerospace & Advanced Engineering; Agri-tech/Food and Drink; Environmental Futures; and Marine industries.
Who is not eligible?
Businesses operating in the following sectors are not eligible under ERDF rules/state aid rules:
- Farming/fishing/primary production
- Processing and marketing of agricultural products
- Coal/steel and shipbuilding sectors
- Synthetic fibres sectors
- Banking and insurance companies
- Services already provided by the state including education and healthcare (including day nurseries and schools)
- Retail facilities
- Nuclear commissioning or decommissioning
If you have a project in mind you would like to apply for, experts at DR Company have the knowledge to guide you through your project from planning to completion, and assist you in every step of your grant application. Get in touch today on 01837 658643.