Member Article

Government seek views on North East’s business funding eligibility

Much of the North East looks set to continue its Assisted Area status, which allows for business funding schemes to operate.

A draft map, released by the Government this week shows a high number of North East wards are proposed for the status, and now the Government are seeking views from businesses and the public.

The proposals are the second stage of Assisted Area Map which sets out areas eligible for regional aid programmes such as the Regional Growth Fund; Business Premises Renovation Allowance (BPRA); and Advanced Manufacturing Supply Chain Initiative (AMSCI).

A consultation on the proposals are now open until Friday January 7, and Bdaily readers are encouraged to share their views here.

The map below shows the North East wards proposed for Assisted Area status between 2014-2020.

Image by Ordinance Survey from http://www.ukassistedareasconsultation.com/

Business Minister Michael Fallon said: “We are seeking views to ensure that the map is fair, and support is particularly targeted where it can drive growth. Key factories and sites ripe for development in areas where investment is most needed have been prioritised, reflecting advice from Local Enterprise Partnerships and Local Authorities.

“Much of the support the government offers to business does not rely on regional aid, but we have identified areas where it can potentially be enormously beneficial to businesses looking to invest in new premises or machinery.”

This was posted in Bdaily's Members' News section by Tom Keighley .