Member Article

Sustainable employment encouraged in Humber LEP

Humber firms with plans to create sustainable employment have been urged by the Local Enterprise Partnership (LEP) to apply for a share of its £7m business loan fund.

Applications have been opened to businesses in the Humber area to secure loans through the Department for Communities and Local Government’s Growing Places Fund to create jobs and push economic growth.

SMEs in the renewable energy, logistics and land infrastructure sectors have already made bids for funding, while the LEP has encouraged more businesses to apply with plans to generate sustainable employment.

Projects with planning permission will be given priority, especially if they have already won funding from elsewhere or have buildings and land available to develop.

The closing date for expressions of interest is the 23rd November, with loans between £250,000 and £500,000 available.

The Chairman of the Humber LEP Investment Board and Executive Chairman of MKM Building Supplies, David Kilburn commented on how business can use the fund.

He said: “Typically, each project that is successful in gaining loan funding would generate around 50 new jobs.

“It seems that business people here have gained a greater understanding of what the fund can do for them and are increasingly confident about coming forward, especially with the economy at last showing some encouraging upward signs.

Mr Kilburn concluded: “The impact of a growing economy could be magnified on the Humber with all the opportunities the next few years could bring, in line with our key objectives of a renewable super-cluster on the Humber, boosting the Humber brand and increasing international trade.”

This was posted in Bdaily's Members' News section by Miranda Dobson .