Funding to help small businesses in the City Region reach their full potential

Posted 6th August 2015
5 minutes read
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For the first time European Regional Development funds are targeted at  Local Enterprise Partnership areas in a major shift to more localised spending across the North as the government builds the Northern Powerhouse and invests in our economy.

  • Local firms across the area to benefit from £154.5million funding that will help create jobs and boost skills
  • Funds to be locally-led from the start

Local organisations working with small firms around the Liverpool City Region will now be able to apply for a share of funding from the latest round of the European Regional Development Fund.

The funding will support innovation, boost businesses and create jobs across local economies and bring benefits to the wider area that will be felt beyond the area’s boundaries.

The Liverpool City Region Local Enterprise Partnership and other local partners will play a key role in shaping how the money is allocated and invested.

Local Growth and Northern Powerhouse Minister James Wharton said:

“This funding will give the area a chance to contribute more to the national economy and unlock local potential. It will ensure we can build a Northern Powerhouse that will have a big and real impact on people’s lives, delivering more jobs, more opportunities and a better future for all.

“We want local partners to come forward with how they want to use this money to drive forward the economy in the Liverpool City Region.  As part of our long-term economic plan this money will provide a big boost to businesses and help create numerous jobs locally that will also benefit people living in towns and villages nearby.”

Liverpool City Region Local Enterprise Partnership (LEP) Chair, Robert Hough said:

“I am delighted that the new ERDF funding is available across the City Region to support business growth and create jobs. The LEP, with partners, have identified and set out a number of priorities for this programme to ensure that our economy gets the biggest boost possible from this investment and I would urge local organisations to bid for the funding.

“The previous ERDF programme is already having a positive impact on the region, in terms of economic growth, jobs and prosperity and we look forward to making investments into new projects that will drive our economy forward.”

Around the country £5billion is being made available from the 2014 to 2020 round of the European Regional Development Fund and the European Social Fund to fund these local projects.

Previous projects supported by the development fund include the Lime Street Gateway Development and Alder Hey research Centre. The 2007-2013 round of ERDF created 23,673 jobs across the North West from £622.5million of funding

The new programme is built from the local priorities of England’s 39 Local Enterprise Partnership areas who know best what is needed to boost growth locally.  All funding decisions will be taken within this framework.

The Partnerships priorities that could benefit from the funding include supporting sector development and enterprise and developing the workforce within the Liverpool City Region.

The main priorities of the European Regional Development Fund programme are research and innovation, supporting and promoting small to medium sized enterprises and the creation of a low carbon economy.

The Government’s one nation approach is supporting all parts of the country.  It is determined to support economies in the North and across the Liverpool City Region Local Enterprise Partnership area has invested £264m from Growth Deals, £174m from Regional Growth Fund, and £19.5m from the Growing Places Fund.