Decision Maker: SCR - Business Growth Board
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
Award of £45k grant to Company 12
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 45,479 to a c company that manufactures environmental products to be used in the construction / spill industry.
The grant would allow the company to purchase of a new textile laminator machine to allow production of bespoke sizes of the product to meet different market requirements.
The project is estimated to result in a 30% increase in productivity, with GVA per worker forecast to increase from £112,500 to £145,833, and creation of 2 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