CABINET CALL: By South Holland District Council deputy leader Nick Worth
South Holland District Council played host to over 60 delegates at a recent event at Springfields, where I was delighted to welcome them to celebrate the conclusion of our successful Grants4Growth funding scheme.
The SHDC Economic Development team is currently working on a funding bid to launch a successor to Grants4GrowthCoun Nick WOrth
There were many highly skilled businesses there, all hugely innovative and efficient that should be a real inspiration to young people from South Holland looking for jobs in the future.
The event marked the conclusion of Grants4Growth, a business support initiative funded by the European Regional Development Fund (ERDF) that has distributed capital grant funding to small businesses across the county to help them invest to grow and improve efficiency.
Grants4Growth is managed by SHDC’s Economic Development team and has awarded grants totaling over £1 million to 107 Lincolnshire businesses over a two year period. One of the highlights for me was Welland Engineering, a Spalding-based firm that has been producing and supplying diesel generators to international markets for over 60 years.
To accommodate rising demand and facilitate business growth, it was clear the company needed to improve productivity and boost efficiency to increase its capacity to take on extra work.
The business secured a grant from Grants4Growth to invest in sections of their warehouse that had been vacant for several years due to poor lighting and lack of insulation.
These workspaces were too cold and dark to work in and the grant enabled the firm to install insulation and Glass Reinforced Plastic roof lighting into the unused areas.
Welland Engineering have estimated that the investments will help save over £16,000 per year and the larger capacity could lead to an increase in turnover of more than 70% over the next three years as well as potentially creating new jobs.
A total of 29 businesses in our catchment area successfully applied for a grant from the programme and collectively received over £260,000 in funding.
The SHDC Economic Development team is currently working on a funding bid to launch a successor to Grants4Growth.
A decision is likely to be made later this year and if the bid is successful then we could have a new scheme in place for April 2016.
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