Decision Maker: SCR - Business Growth Board
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
Award of £100k grant to Company 23
subject to the conditions set out in the Appraisal Panel Summary
A report was received to enable the Board to take a decision whether to support the proposal of a Business Investment Fund (BIF) Productivity Challenge grant of £100,000 to a company that manufactures self-adhesive labels, mainly sold via brokers, and is developing a new technology to manufacture short run pouches and sachets.
The grant would allow the company to construct an extension to the existing factory to house digital print and finishing machinery.
The project has been estimated to result in a 36% increase in productivity, with GVA per worker forecast to increase from £36,686 to £50,061, and creation of 4 FTE’s by 2020, considered acceptable value for money for the BIF Productivity Challenge investment.
Report author: Sue Sykes
Publication date: 06/11/2019
Date of decision: 23/10/2019
Decided at meeting: 23/10/2019 - SCR - Business Growth Board