350 businesses supported with LEP investment
The Leeds City Region Enterprise Partnership (LEP) has supported 350 businesses across the City Region to create jobs and growth.
The LEP’s grants and loans programmes have allocated over £50 million in total to businesses and projects across the Leeds City Region and are set to create 3,500 jobs for local people over the coming years.
The Leeds City Region is the largest manufacturing sector in the country, and over three quarters of all grants from the LEP have gone to businesses operating in this industry. The funding can be used for capital investment in machinery, plant and land with the overall aim of enabling businesses to take on new employees and apprentices.
Roger Marsh, Chair of the LEP said: “We are delighted that our funding programmes are having such a positive impact, helping businesses to unlock their potential and create new, good quality jobs for local people.
“I’m especially pleased about the support we’ve given to the region’s manufacturers. Enabling growth in this sector is vital if we are to achieve our ambition of enabling the City Region to become a net contributor to the public purse, helping to rebalance national economy and deliver sustained good growth that provides opportunities for all.
“As a result of this LEP investment, a number of manufacturers have been able to explore new markets at home and overseas and purchase new, innovative technology to expand their product offering.”
Councillor Wakefield, Leader of Leeds City Council and Chair of the LEP Investment Panel added:
“We have seen many strong and ambitious businesses apply for this funding and I am delighted that a proposed 3,500 jobs are expected as a result.
“It is essential to invest in our workforce and create the opportunities for our young people to gain experience and learn new skills and I am particularly encouraged when I speak to businesses and learn about the new apprenticeship opportunities that have been created as a result of this investment.”
Manufacturing business Craftsman Tools, based in Otley, in one of the manufacturing companies that has grown as a result of LEP support. The company manufactures high quality tool holders to clients across the world. They successfully applied for a grant from the LEP to invest in new machinery that would help them expand production, develop innovative new products and processes and train their growing cohort of apprentices.
Robert Johnson, Managing Director of Craftsman Tools said: “The LEP grant enabled us to invest in new machinery, freeing up some of our older machines to be used in our apprenticeship training programme and enabling us to develop new processes to boost our productivity and innovation. We employ 11 apprentices who are learning the trade from scratch and having the equipment for the young apprentices helps us provide the bespoke training that is essential if we are to ensure we have the right skills in future years.”
Over 255 manufacturing businesses have now successfully applied for grant funding and following the Leeds City Region Growth Deal announcement, a further £18m will be available from April to businesses across of the LEP’s key sectors: Innovative manufacturing, creative and digital, food and drink, health and life sciences, low carbon and environmental and financial and professional services.
The LEP is hosting an event for SMEs across the Leeds City Region to find out more on what funding options are available. The event takes place on 27th January at Unity Works in Wakefield where key speakers Roger Marsh, Councillor Wakefield and Councillor Box will highlight what further investment opportunities are on the horizon.
For more information visit on the LEP funding programmes visit www.the-lep.com/businessfunding