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Programme commits £5m to the county’s companies

More than 40 businesses in the county have benefited from more than £5m of funding from a Business Growth programme that exists to stimulate job creation, provide financial support and enhance skills and talent.

Arch, The Northumberland Development Company, in conjunction with Northumberland County Council and supported by Rio Tinto Alcan, was awarded £11.75m in April of this year from the government’s Regional Growth Fund (RGF).

The money will be used to deliver a programme that provides financial support to eligible businesses across Northumberland to encourage the creation of new sustainable jobs and the safeguarding of existing jobs, the growth of skills and talent and the acceleration of inward investment.

A variety of businesses from across different sectors have benefited from the scheme including those from marine, oil and gas, food and drink and engineering environments.

The programme is open to applications with a further £6m available to businesses to invest in projects which need to be completed by March 2015 located, or planning to locate, in Northumberland.

The programme consists of a Business Growth Fund, and an Apprenticeship and Training Fund.

Peter McIntyre, Arch Group managing director, said: “The funding available through the growth programme is a great boost to Northumberland’s economy, providing direct financial support for investment by businesses.

“It offers valuable funds to assist businesses to expand operations and is available to help at all stages of company development.”

For further information about the Northumberland Business Growth Programme call (01670) 528462 or (01670) 528463 or email rgf@arch-group.co.uk

Alternatively you can visit www.archnorthumberland.co.uk

 

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