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Funds opened to support Solent manufacturers

BUSINESSES on or moving to the Solent Enterprise Zone at Daedalus have received a boost with news they can now apply for up to £1m of funding each.

Solent Local Enterprise Partnership (LEP) has reopened its Solent Enterprise Zone Advanced Manufacturing Expansion Fund and has raised the amount that companies can bid for.

Previously, businesses could bid for up to £200,000 but the bar has now been raised, with companies now able to apply for up to £1m each.

The Solent Enterprise Zone Advanced Manufacturing Expansion Fund has been established to support businesses based on or moving to the enterprise zone in Lee-on-the-Solent.

The £2.8m fund aims to create or safeguard jobs at the zone, which already has a number of benefits in place for companies there.

Steve Futter, senior account manager at the Solent LEP, said: ‘The Solent Enterprise Zone at Daedalus has the potential to become the jewel in the UK’s advanced manufacturing crown, which is why we are throwing our full support behind the area and giving businesses there access to a number of different grants.

‘Businesses in our key sectors on the site have ambitious plans for the future and we are happy to be able to match their ambitions with even more money up for grabs as we reopen the fund.’

Anyone interested in applying can call (023) 9283 4893 or email ezexpansion@solentlep.org.uk.

Businesses within the enterprise zone are not the only ones to benefit from access to funding. A similar fund is available for advanced manufacturers across the wider Solent area.

The Solent Advanced Manufacturing SME Fund has £3.7m available to SMEs in the Solent maritime, defence, aerospace, advanced manufacturing and general services support for the defence and advanced manufacturing cluster supply chains.

Application documents for the fund are available at solentlep.org.uk/enterprise_zone.

 

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