CHAMBER NEWS
backbone of Leicester and Leicestershire, with 89% of businesses employing fewer than ten people. These businesses are a key focus of ERDF investment. By targeting ERDF money in this way, the LLEP has unlocked a further
£49.4m investment in the region. This has resulted in a £96.7m boost to the local economy over the past four years. These final calls will build on this investment and ensure that Leicester and Leicestershire continue to prosper into the future. Within the ERDF funding stream, there are four ‘priority axes’ (PA).
These are key themes that projects must adhere to if they are to receive funding. PA-1 is centred round investment in innovative projects. PA-2, in ICT; PA-3, in SME competitiveness; and PA-4, in low carbon projects and technologies. These final ERDF calls will have a combined value of £13.07m. Mandip Rai, LLEP Chief Executive and Chair of the ESIF committee,
said: “ERDF funding is an extremely important local resource to support businesses to start-up and grow. The fund is targeted at improving access to finance, supporting business to adopt new technology and investing in much needed commercial space. “The investment will deliver hundreds of new jobs as well as improve the
performance of businesses across the area. With these final calls, the LLEP is encouraging further innovative proposals to be put forward to drive economic growth in Leicester and Leicestershire." Kevin Harris (pictured), Chair of the LLEP Board and Chamber President,
said: “I’m very proud the LLEP has had such great success in targeting ERDF investment in Leicester and Leicestershire, and excited to see the proposals for this final wave of funding. “By working with external delivery organisations that have sector-
specific expertise, the LLEP can ensure that these funds are invested where they are needed most, to reap the greatest benefit for our region. We want Leicester and Leicestershire to become national hubs for investment in areas such as low carbon technology, and these funding calls are a big part of that ambition.”
business network July/August 2019 43
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