Massive boost to economic growth

17:18 29 March 2012

The bomb was destroyed this morning

The bomb was destroyed this morning

Archant

South West to receive further £7million in funding.

An enterprise partnership has been awarded a massive cash injection to boost economic growth in the South West.

Heart of the South West (HotSW) Local Enterprise Partnership has been awarded an extra £7million through the Growing Places Fund.

A massive £14,510,481 million was awarded to HotSW last month.

But the area can now expect the extra boost - as a result of measure announced in last week’s Budget.

Tim Jones, chairman of HotSW, said: “This extra money is great news for the area and will make a real difference – it will help kick start many projects that have stalled infrastructure to finally get off the ground.

“We’d also like to remind people that the closing date for applications for the first phase of funding is fast approaching – 31st March – so it’s important that people apply now.”

The Growing Places Fund is a new funding initiative available to unlock stalled projects throughout the area: it is designed to distribute to capital projects and developments that are ready to commence, but have been postponed for financial reasons.

The fund aims to boost economic growth by getting delayed schemes moving again with the necessary support to enable the creation of new homes and jobs.

To bid for funding, applicants must complete a formal application which will be available from the HotSW website www.heartofswlep.co.uk

It is anticipated that applicants will repay the fund in the long term, so the funds can be revolved and invested into different future projects.

As the programme progresses, a full list of successful projects will be published on the website. A second phase of funding will be available over the next few months.

0 comments

Other News Stories

Yesterday, 22:58

Studio 20 in Ilfracombe was the venue for a charity spinathon that raised £2,000 in StarTrek sponsorship

Read more
Yesterday, 21:54

A variety of Great British Spring Clean events are being held around North Devon this weekend

Read more
Yesterday, 19:22

Opportunities range from cooking, to DIY, to offering friendship and a cup of tea

Read more
Yesterday, 16:35

The Lord Lieutenant and rescue helicopter will be dropping in at the Rotary StarTrek Challenge next Saturday (March 4)

Read more
Yesterday, 15:22

If you come down to the Byes in April, you could be in for a big surprise

Read more
Yesterday, 15:00

Police say 18 animals were taken some time in early to mid February

Read more
Yesterday, 12:30

Marpool Primary School’s ‘exciting’ gymnasts won top awards at the Devon school championships.

Read more
Yesterday, 10:22

Joy Strassen proved hard work pays off after GCSE success

Read more
Yesterday, 09:00

Police are seeking witnesses after a householder was stabbed in the chin following an altercation in Braunton

Read more
Yesterday, 07:00

Axe Valley Community College and Holyrood School at Chard are to become a Multi Academy Trust (MAT).

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 9°C

min temp: 1°C

Most Read News

Place a family notice

Family Notices 24

Newsletter Sign Up

Sign up to receive our regular email newsletter

Find a job in Devon



Local business directory

Devon's trusted business finder

FFind planning applications