Deadline looms for Hartlepool companies to get job boost grants

One of the JDR sheds

One of the JDR sheds

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COMPANIES in Hartlepool have a month to put forward their bids for lucrative grants under a scheme which helps to create new jobs.

The deadline for applications under the latest round of the Regional Growth Fund is December 9.

And bosses at Tees Valley Unlimited are hoping firms in the area can continue their impressive record under RGF.

In November 2011, Hartlepool won a significant share of round two of RGF.

Town firm Able received £2.2m backing towards a £16m scheme to develop a dry dock.

In a later round announced earlier this year, fellow town firm JDR Cables secured two grants to help with its expansion.

Now, the search is on for firms to invest in the RGF latest round in which they could win a share of the £300m cash pot.

A TVU spokesman, speaking in the latest economic briefing announced by the regeneratiojn experts, said: “So far £2.6 billion from the first four rounds of the Regional Growth Fund has supported over 400 projects and programmes.”

The spokesman said this would create and safeguard hundreds of thousands of jobs over the long-term and stimulate £14.7 billion of private sector investment.

He added: “Round 5 will be open to private sector bidders seeking £1 million or more. The Government is calling for companies planning high quality projects that will generate significant private sector investment and sustainable jobs. Businesses will be able to submit their bids until noon on December 9.”

But the fund is not the only finance source available to Hartlepool firms.

FW Capital, a Billingham-based company offering financial support to help North-East businesses expand and create new jobs, has appointed a new team to spearhead its work.

Launched by TVU, the Government-backed £10m Catalyst Fund provides firms with short-term finance to fund performance and warranty bonds.

Small and medium-sized businesses across Tees Valley can apply for between £100,000 and £2m and it is expected that the fund will generate £700m of extra business and support more than 1,400 jobs in the next ten years.

For more details on funding, visit www.teesvalleyunlimited.gov.uk