Cash boost for coastal businesses

ATTRACTING economic investment and helping create new jobs in Suffolk Coastal has won the area a government grant of £284,000.In the past year, the district council's economic regeneration team year has been helping bring new jobs and investment to Rendlesham and Felixstowe.

ATTRACTING economic investment and helping create new jobs in Suffolk Coastal has won the area a government grant of £284,000.

In the past year, the district council's economic regeneration team year has been helping bring new jobs and investment to Rendlesham and Felixstowe.

It has also offered specialist advice and grants to rural businesses, worked with the Business Forum to compile a detailed data base of companies in the district, and supported the work of the Felixstowe and Trimleys Peninsula Futures Group.

The money has been awarded from the Local Authority Business Growth Incentive Scheme which offers a financial incentive to all councils to promote enterprise, employment and growth among the businesses in their area.

Cabinet member Colin Hart said: “While this is welcome new money for this council, it is coming from the national pot of business rates which this and all other councils collect from local companies and pass onto the government for it to distribute as it sees fit.”

The scheme measures how much each district's rateable value for businesses has grown over the previous year, and how each council has performed above a basic target set by the government.

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Suffolk Coastal has been awarded £284,309 - a significant boost given that last year the district gained nothing at all from the scheme

Mr Hart said: “This is welcome news, and I am delighted that the government recognises the successes we have achieved.

“I would like to pay tribute to my predecessor John Perry for his leadership in this area and to the whole team for their efforts.

“A successful local economy is central to the future of this district. Investment decisions are never made on just economic grounds alone, which is why the excellent quality of life on offer in our district is such an important asset.

“We aim to maintain the right balance in our district so that economic growth can occur in a way that reinforces our unique character.

“This additional funding will help support the work of our economic regeneration team but will probably also be used so we can go on delivering value for money across the whole range of our services.”

Have you moved your business to the Suffolk Coastal area in the past year or carried out an expansion project? Call Richard Cornwell on 01394 284109 and tell us you story.

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