Entrepreneurs in Norfolk and Suffolk looking to grow their businesses are set to receive a funding boost after the government said it was awarding £8.6m to support the creation of jobs in the region and Archant is supporting one of the successful bids.
Deputy prime minister Nick Clegg has announced that four projects will provisionally receive a slice of the regional growth fund cash, which will attract an additional £400m of private sector investment.
Among those are Norwich-based regional enterprise agency Nwes which, with support from Archant, has been allocated up to £3m to provide grants to other local businesses in order to create 400 new jobs in Norfolk and Suffolk over the next two years.
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.
Final details are still to be agreed, but the aim is for projects to get underway in the summer. The Nwes scheme will be focused within the Future50 project set up by Archant’s Eastern Daily Press four years ago to help promote and support entrepreneurial business, which has since been extended into Suffolk and supported by the East Anglian Daily Times.
Shaun Lowthorpe, Archant Norfolk and Suffolk business publishing editor, who was involved in the successful bid, said: “We’re delighted that the Nwes scheme has passed the first hurdle in securing this conditional award of regional growth fund money. Through our Future 50 programme, Archant has supported the ambitions of Norfolk and Suffolk’s entrepreneurs, and we are looking forward to working with Nwes as they seek to develop the programme to help create up to 400 jobs.”
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 was in Norwich visiting Nwes yesterday, 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."
Pictured above is Ed Davey (left) MP at Norwich Enterprise Centre to launch a regional growth fund project to create new jobs, with Emily Burlingham from NEC, Kevin Horne CEO of Nwes, Jeff Henry chief executive of Archant, Adrian Posner from Birketts and Simon Watson from Lovewell Blake.
© Archant Ltd 2013