A £3m fund which aims to stimulate economic growth and create jobs across Nottinghamshire will reopen for bids today (7 January 2015).
The Nottinghamshire Economic Development Capital Fund (NEDCF) was launched in April 2014 and about £1.5m has been provisionally allocated to companies across the region to finance expansion.
A total of 13 businesses are being assessed, with five approved for grants between £44,000 and £240,000. The approved companies are expected to create a total of 50 jobs with the funding, safeguarding a further 230 roles.
NEDCF will now reopen for bids indefinitely until the remaining £1.5m has been allocated.
Diana Meale, chairman of the economic development committee at Nottinghamshire County Council, which created and oversees the fund, said: “Creating jobs and growth in Nottinghamshire is a priority for the County Council, so I am delighted that NEDCF has made such an encouraging start.
“With half the Fund still to be allocated, I am keen to offer every encouragement to expanding businesses across Nottinghamshre to seize this opportunity and apply.”
“We are backing local enterprise and I hope businesses and other organisations continue to embrace the opportunity for them and the Nottinghamshire economy to grow and prosper together.”