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Grants
... and
Funding |
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There are four main sources of funding assistance for capital
expenditure available to companies investing in Sheffield, whether
new inward investment or expansion of existing investment:
| Funding
assistance |
Source |
| Regional
Selective Assistance |
Department
for Trade and Industry (DTI) |
| Investment
Enhancement Fund/SME Fund |
Objective
1 |
| Enterprise
Grant |
DTI |
| South
Yorkshire Investment Fund |
UK
and EC |
The options with regards to funding assistance are dependant on
the size of company, the sector in which the company operates
and the nature of the investment being planned.
Regional
Selective Assistance
This is a discretionary grant that provides assistance
towards projects that fit the following criteria:-
-
fixed
capital expenditure over £500,000
-
create
or safeguard employment
-
undertaken
within an assisted area, eg, Sheffield
-
demonstrate
a need for assistance
-
become
profitable within three years
-
are
high-quality
-
contribute
positively to the regional and national economy
-
have
NOT yet started
-
the
majority of the project funding is met by the
applicant or the private sector
Grants
are individually assessed but the level can be up to 35 per cent
of the fixed costs.
Eligible
businesses are those investing in manufacturing and the service
industries that supply a national market. It does not include steel
production, retail, local services, mining and ship building.
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