A scheme providing grants to small and medium size â€˜supply chainâ€™ businesses is expected to create and safeguard over 4,500 jobs and attract Â£114m in private sector match funding.
The Green Bridge Supply Chain Programme was first launched in June 2013 and has just closed after committing all of its grant funding after receiving record numbers of grant applications.
Birmingham City Council manages the programme, which is delivered across six Local Enterprise Partnership areas (LEPs), within the West Midlands region, including the Greater Birmingham & Solihull, Black Country, Coventry & Warwickshire, Staffordshire & Stoke, the Marches and Worcestershire, together with Birmingham Chamber Group.
It offers grants of between Â£10,000 and Â£1 million to support businesses diversifying into the green sector.
The Â£75 million programme was funded by the regional growth fund (Â£20m), European regional development fund (Â£7.5m) and private sector match funding Â£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 Of these, 133 were withdrawn or declined with 324 applications recommended for funding.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: â€œThis 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.Â It also demonstrates how the support delivered by Birmingham City Council is providing tangible support to the business community and shows what a huge difference can be made to the local economy by funding from Europe and national government.â€
Cllr Ali will be visiting Birmingham company Thermotec Plastics on 22 December to see how their business will gain from Green Bridge funding.
Note to Editor:
The ERDF Green Bridge Supply Chain Programme is part financed by the European Regional Development Fund Programme 2007 to 2013.Â 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.Â For more information visit www.gov.uk/browse/business/funding-debt/european-regional-development-funding.