Birmingham company benefits from Green Bridge scheme

By on 24/12/2014 in Cllr Ali, News

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Councillor Tahir Ali, cabinet member for development, transport and the economy, visited a company that has benefited from council-managed scheme that supports businesses across the region.

He was given a tour of Thermotec Plastics Ltd in Witton.

The Green Bridge Supply Chain Programme provides grants to small and medium size ‘supply chain’ businesses and is expected to create and safeguard over 4,500 jobs and attract over £114m in private sector funding.

It offers grants of between £10,000 and £1 million to support businesses diversifying into the green sector.

The £75 million programme was funded by the regional growth fund (£20m), European regional development fund (£7.5m) and private sector match funding £47.5m).

The city council delivered 15 competition funding rounds, having received 454 applications. Of these, 133 were withdrawn or declined with 324 applications recommended for funding.

Councillor Tahir Ali, cabinet member for development, transport and the economy, said: “This scheme has been a real trailblazer; the first of its kind and a fantastic example of how working in partnership across the region can benefit businesses.

“It also shows what a huge difference can be made to the local economy by funding from Europe and national government.â€

Note to editor:

The ERDF Green Bridge Supply Chain Programme is part financed by the European Regional Development Fund Programme 2007 to 2013.  The Department for Communities and Local Government is the managing authority for the European Regional Development Fund Programme, which is one of the funds established by the European Commission to help local areas stimulate their economic development by investing in projects which will support local businesses and create jobs.  For more information visit www.gov.uk/browse/business/funding-debt/european-regional-development-funding.

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