Northamptonshire Enterprise Partnership (NEP) is delighted to announce £473,000 of funding has been approved for another 11 Northamptonshire businesses in the second round of its Northamptonshire High Performance Technologies (HPT) Investment Programme.
This brings the total number of business beneficiaries over the first two rounds to 28 with grants approved totalling more than £1.2million.
The grants, awarded and managed by NEP, with support from local industry and the Government’s Regional Growth Fund (RGF) and the European Regional Development Fund (ERDF), will create and safeguard 359 jobs.
In addition, these funding awards will assist the 28 grant approved companies so far to secure a total of £8million in private sector investment.
Successful applicants in the second round of funding include Hi-Force Ltd based in Daventry who will be expanding their manufacturing facilities and investing in vital equipment. BS Project Engineering (Alto Performance) is developing a new braking system for motorbikes and Diamond Hard Surfaces based in Towcester are developing a prototype coating application process for depositing carbon onto substrates.
Chris Walker, Director/CEO, Diamond Hard Surfaces, said: “Our unique product doesn’t require sophisticated and lengthy preparation. The process of applying for finance through the HPT Investment Programme was equally straightforward, made easier with a local point of contact at NEP who was always available to answer any queries or to offer advice.”
Other grant recipients will include Fablink Cab Systems, Enterprise Control Systems, Aero Research Partners, Aurora Computer Services, Rolton Group, Silwood Numberplate Components, Navtech Systems and Building Services Design.
Northamptonshire at the centre of UK’s HPT cluster
Tim Bagshaw, Head of Investment at Northamptonshire Enterprise Partnership, said: “The sector is an incredibly important one to the wider Northamptonshire economy. At the centre of the UK’s world-leading High Performance Technologies (HPT) cluster incorporating a unique and comprehensive industry supply chain, more than 800 HPT businesses based in Northamptonshire currently contributes £2.1 billion to the local economy each year.
“With over 80% of Northamptonshire’s HPT cluster being small or medium sized businesses it has real potential for growth. This funding forms part of a bigger support programme that is helping to make that growth happen with the first two rounds of funding already securing a significant number of jobs and high level of private investment.
The Northamptonshire HPT Investment Programme was awarded £1.2 million from the Government’s RGF and £500,000 from the European Regional Development Fund aims to support the development of the HPT network.
We are in the process of reviewing applications to the third round of funding and we anticipate that this will exhaust our fund grant allocation of the programme. However, if further funds do become available we’ll run another round in the spring.
For further information or to apply for the Northamptonshire HPT Investment Programme,
contact Cathy Martin HERE or visit www.northamptonshireep.co.uk
More information about the RGF and other Government backed finance options can be found HERE
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