Northamptonshire County Council and Northamptonshire Enterprise Partnership are delighted to announce the launch of a new round of funding under the INV-ENT initiative.
The fifth round of the initiative will provide a grant to small and medium sized enterprises (SMEs) in Northamptonshire based on their annual business rates bill, enabling further investment to stimulate business development, innovation and growth and to create new jobs.
The total investment under INV-ENT since its launch in October 2011 now stands at over £800,000 which is supporting the creation of 300 new jobs, more than 100 apprenticeships and the up-skilling of 600 employees over the next two years.
Cllr Jim Harker, Leader of Northamptonshire County Council said: “I’m delighted that this enormously successful scheme is now entering its fifth round and I’m confident that we will continue to see more positive results as the economy maintains its recovery.
"...a little intervention can go a very long way"
“Small and medium-sized enterprises are the driving force behind the Northamptonshire economy and the outcomes we’ve seen so far demonstrate how a little intervention can go a very long way.”
SMEs in Northamptonshire are invited to apply for an INV-ENT grant from today until 12 noon on Monday 11th November. Applications with a strong commitment to job creation will be favoured and there is a focus on supporting businesses in high-growth and advanced technology-led sectors which have been identified as key growth industries for the county.
Sajeeda Rose, Deputy Chief Executive at Northamptonshire Enterprise Partnership, said: “With the support enabled by INV-ENT we have already seen numerous businesses in the county grow resulting in jobs growth and development of the local economy. INV-ENT is an incredibly popular funding scheme and one that we are delighted to be opening up for another round.”
Benefitting Northamptonshire businesses
Local businesses that have previously benefitted from INV-ENT include Full Support Healthcare Ltd from Wellingborough and Eximgo Ltd from Oundle. Full Support Healthcare received a grant to increase capacity within their custom-built and accredited clean room used to manufacture, assemble, sterilise and pack single-use surgical and medical products.
A second grant was awarded a year later to purchase testing equipment allowing them to halt the outsourcing of tests. To date, this investment has created 8 additional jobs, 1 new apprenticeship and has supported the training of 30 members of staff.
An INV-ENT grant was awarded to Eximgo Ltd to assist the training of new employees in key engineering and design skills and enable new product development. This was a critical first step in their planned investment in machinery for a large part thermoforming factory; the facility will allow the business to manufacture recyclable products and accessories for the automotive, building and leisure markets from their base in Oundle. Since receiving the grant funding, Eximgo has expanded into new premises and hired 3 further members of staff.
For further information on how to apply for INV-ENT funding, click HERE
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