Sunny

Sunny

max temp: 23°C

min temp: 17°C

Search

The pigs have arrived. See the latest

Pigs Gone Wild

news here.

More than 100 firms boosted by New Anglia LEP’s Growing Business Fund

06:00 11 September 2015

One of the new machines at engineering company Ultra Precision in Haverhhill which have been part-funded by a grant from New Anglia LEP

One of the new machines at engineering company Ultra Precision in Haverhhill which have been part-funded by a grant from New Anglia LEP's Growing Business Fund.

Archant

More than 100 firms across Suffolk and Norfolk have now received grants from the Growing Business Fund, established by the New Anglia Local Enterprise Partnership (LEP).

A total of 114 companies have received awards totalling more than £10.7million, helping to unlock around £60.3m of private sector investment and to create 1,384 jobs.

The scheme, launched in 2013 with backing from the coalition government’s Regional Growth Fund, offers grants of £25,000 to £500,000, representing up to 20% of the expansion costs, which must create one job for every £10,000 awarded. There is also a small grants scheme which offers funding from £5,000 to £25,000.

Funding awarded so far has helped with capital projects such as new premises and production lines and paid for equipment and tools, IT software and marketing campaigns.

Successful applicants have included Haverhill-based engineering company Ultra Precision, which makes components for sectors including aerospace, robotics and motorsport and has secured three grants from the fund, totalling £135,000.

Managing director Geoff Quick said: “The grants from the Growing Business Fund have really helped drive our growth. We can now invest in the latest technologically advanced equipment to make our processes faster and more efficient.

“This will deliver opportunities to be more competitive in a global marketplace and we aim to employ a further 10 people over the next two years to achieve our goals.”

New Anglia manager director Chris Starkie said: “The LEP’s primary focus is to help drive the economic growth of Norfolk and Suffolk.

“The Growing Business Fund is key to that ambition and not only supports SMEs to thrive and create jobs, but helps them to unlock further private investment which would not be available without our financial support.

“In two years this fund has already beaten its predicted job target and through our Growth Deal with Government we have additional funding enabling the programme to run until 2021.”

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Ipswich Star visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Ipswich Star staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Ipswich Star account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Police at the Ipswich v Norwich derby.

Suffolk Constabulary has yet to confirm it will have a presence at Ipswich Town games this season - including the potentially powderkeg Old Farm Derby.

Woman repays £7,600 in overpayment claim

A Kesgrave woman has been fined after making a false statement to obtain £7,600 worth of benefits which she was not entitled to.

File picture of a car fire.

Firefighters were called to reports of three cars alight at a garage in Ipswich.

A motorist involved in a crash on the A14 in which a teenager died will live with the “huge remorse” for the rest of his life, a court has heard.

Relax and unwind

When the weather is as glorious as this, you want to do nothing more than sit back and relax.

A police officer stands outside the Olympia mall in Munich, southern Germany, Friday, July 22, 2016 after shots were fired. (AP Photo/Sebastian Widmann)

The gunman who shot dead nine people and injured 16 others at a Munich shopping centre was an 18-year-old German-Iranian man, police believe.

Network Rail is replacing overhead line equipment between Shenfield and Liverpool Street.

Delays caused by extreme heat like those that affected rail services in the region could be less common in future according to Network Rail.

St Helena Hospice assistant nurse Emma Young reduced staff and patients to tears in Colchester after performing Adele's Make You Feel My Love. Pic: St Helena Hospice.

A video of an assistant nurse performing an Adele song at a Colchester hospice has gone viral.

Andy Beckwith

A former Essex man who went missing in Gibraltar has been found “in good health”, police have said.

An aerial shot of Bramford.

More than 250 homes lost power this evening due to emergency repair work by UK Power Networks.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Newsletter Sign Up

Great British Life

Great British Life
MyDate24 MyPhotos24