Merseyside Jobs and Growth Fund launches to boost the region

The multi-million pound Merseyside Jobs and Growth Fund has launched with the hope of stimulating employment opportunities and business growth.

Managed by the St Helens Chamber of Commerce and launched on Friday (July 3), the £6m pot is backed by the Regional Growth Fund and will offer Merseyside firms access to grants of up to £75k. The grants supplied are also capped at 20% of the total cost of investment towards capital expenditure projects.

Typical projects funded, according to the Chamber, include the purchasing of new machinery or equipment, or the acquisition of new premises to allow for expansion.

Geoff Bates, the programme manager, said: “The Merseyside Jobs and Growth Fund is aimed at helping businesses by part funding capital expenditure projects where the owners are unable to finance their plans entirely through conventional sources.

“We have a proven track record of helping businesses through the application process and are looking to capitalise on this by unlocking the potential of as many businesses across Merseyside as possible.”

The launch comes in the wake of the St Helens Jobs and Growth Fund, which ended in March after awarding £1.5m to firms based in the town.

One business that obtained a grant from the St Helens Regional Growth Fund is wooden pallet supplier Palletland Ltd, which was awarded £60k towards a £304k investment plan to revamp a derelict building for commercial use. The cash allowed the firm to create eight jobs and increase its overall production.

Ian Slater, Palletland Ltd’s managing director, said: “We have received an enormous amount of help and support from St Helens Chamber, culminating in the award of a sizeable grant that enabled us to relocate to the new factory and take on new staff to meet demand.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →