Nottinghamshire Economic Development Capital Fund: Round 3

June 8, 2016 10:28 am

The 3rd round of the capital fund will be launched this week (week commencing 06/06/16), full details of the application process, including guidance notes can be found here.

Applications are invited from businesses in the County of Nottinghamshire (excluding the City Council area) for capital projects which will enable the business to grow and create new jobs.  We expect to allocate £2m in this round.

The first two rounds of the Fund have supported businesses to improve their premises, move into new premises and purchase new machinery all of which have allowed the company to grow and create jobs for local people.

Please read the guidance carefully, but the key points to note about the NEDCF are as follows:

  • funding is available as a grant; it is not a working capital or loan fund
  • the Fund is exclusive to companies located in Nottinghamshire (excluding the City)
  • grants are awarded for new capital projects, work should not have already started and the assets purchased must remain in Nottinghamshire
  • the project should create new jobs. It is the aspiration of the Fund that 75% of the jobs created will be at or above the Living Wage Foundation’s recommended living wage, currently £8.25
  • the grant needs to demonstrate value for money
  • this is a financial support of last resort, when all other mainstream funding routes have been exhausted
  • grants are subject to EU State Aid rules which determine the eligibility of the business and the amount of intervention which may be considered.

The closing date for applications is 4pm Monday 25th July 2016.

If you have any queries please submit these by e-mail to ecdev@nottscc.gov.uk

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