Three new economic development and business support programmes have been launched in Cumbria as part of the allocation of remaining EU funding streams available to the county.
A total of £6.75m is available from the European Regional Development Fund (ERDF) as part of the overall funding allocation previously secured via the Cumbria Local Enterprise Partnership.
A fund of £4m has been allocated to support flood resilience initiatives around Kendal and the River Kent catchment area. For SME growth, £2m is available to help develop new business premises and create ‘grow-on’ space, incubator space or managed workspace.
The remaining £750,000 will provide support for businesses to take advantage of the range of appropriate finance options available to them. This funding will align with key initiatives such as the £400m Northern Powerhouse Investment Fund which will provide access to various options such as microfinance, debt finance and equity loans.
These latest funding rounds are open until 17 February 2017.
Cumbria is a recipient of funding from the European Structural Investment Funds (ESIF) programme, which includes the European Regional Development Fund (ERDF), European Social Fund (ESF) and European Agriculture Fund for Rural Development (EAFRD).
Graham Haywood, director of Cumbria Local Enterprise Partnership says: “We are now moving forward again with EU investment rounds to enable allocation of the remainder of our funding streams. We still expect the European Structural Investment Funds programme to be delivered at least through until the end of 2020.
“Spending the remainder of our EU funding resources effectively is critical, so it’s important that business networks and SMEs are aware of these opportunities. We also need to support potential applicants in developing strong applications to help deliver economic growth.
“Cumbria LEP is extremely keen to hear from applicants interested in accessing EU funding to ensure that essential projects within the county can be supported.”
For further information about the specifications of the ‘Ready for Finance’ investment call, visit:
For further information about the specifications of the ‘Business Premises’ investment call, visit:
For further information about the specifications of the ‘Flood Resilience’ investment call, visit:
https://www.gov.uk/european-structural-investment-funds/climate-change-call-in-cumbria-oc07r16p-0436
Cumbria Local Enterprise Partnership and its partners play a key role in determining how EU funds are invested throughout the county. This includes a range of projects to support business growth and innovation, create jobs and improve skills levels.
Corinne Watson from Cumbria LEP adds: “These opportunities are part of our existing pipeline of funding calls agreed for progression by Cumbria’s ESIF Committee. We will launch further ERDF and EAFRD funding rounds in early 2017 which will focus on low carbon, broadband, tourism infrastructure, rural business grants and food processing.
“It’s important for applicants to remember that multi-year ESIF backed projects with signed contracts or funding agreements in place will be fully funded, even when these projects continue beyond the UK’s departure from the EU.
“We are also able to offer a ‘technical assistance’ service that can provide applicants with support to develop their applications to enable the greatest possible chance of success.”
European funding streams are managed by the Department for Communities and Local Government for ERDF, the Department for Work and Pensions for ESF and the Department for Environment Food and Rural Affairs for EAFRD.
For further information on European Funding in Cumbria, please contact Corinne Watson at Cumbria Local Enterprise Partnership by emailing corinne.watson@cumbria.gov.uk
