Source: Sheffield First for Investment Press Release 10/11/06
Companies in parts of South Yorkshire have been given until the end of November to submit applications for investment grants because a number of wards will soon no longer qualify for assistance. They are being encouraged to contact Sheffield First for Investment for advice on making quick and effective applications.
The SFI (Selective Finance for Investment) scheme provides discretionary Government grants, via Yorkshire Forward, to companies who plan to invest to create or safeguard local jobs. But companies in Beauchief, Birley, Broomhill, Chapel Green, Dore, Ecclesall, Hallam, Hillsborough, Intake, Nether Edge, Norton, South Wortley, Stocksbridge and Walkley will be unable to apply for the funds after the end of November.
Currently, grants of up to a maximum of 35% of the capital to be invested can be obtained via the grant. From 2007 onwards that will be downgraded to a ceiling of 25% in all of South Yorkshire but dropped completely in the areas named above.
Phil Roberts, chief executive of Sheffield First for Investment, says: “For companies in some areas this is a one-off opportunity to access the grant and SF4I can assist them to apply quickly and effectively.
“Companies across the remainder of South Yorkshire could secure a potentially higher amount if they apply before the deadline, so they benefit from the higher ceiling available before this drops to 25% in the New Year.”
Companies seeking advice in applying for SFI grants should contact Phil Roberts at Sheffield First for Investment on 0114 223 2345.
Ends.
Selective Finance for Investment is a UK Government funded scheme providing discretionary grants for companies embarking on capital expenditure projects which create or genuinely safeguard jobs. The grants, which are administered in this region by Yorkshire Forward, are intended to provide the minimum assistance necessary in order for a project to proceed, either at all, on a larger scale or in the assisted areas instead of overseas. As the grants are discretionary, it is very difficult to demonstrate that a project requires funding if a start or commitment has already been made. Companies are therefore advised not to make any commitment to a project before exploring the grant potential.