Britain's Energy Coast cash boost for Cumbrian businesses
Last updated at 13:24, Thursday, 25 July 2013
Cumbrian businesses are set to benefit from nearly £100,000 of funding from Britain’s Energy Coast Investing in Business programme.
The investment, which has also prompted a further £280,000 of private sector investment in Cumbrian companies, will create or safeguard at least 11 jobs.
The latest businesses to benefit are Cumbria Metals of Flimby, Ecopower Group Ltd, based near Wigton, and Birkett Fencing, Rowrah.
The award of £55,000 to Cumbria Metals, which collects and processes scrap metals for recycling, forms part of a wider £176,500 investment by the company to secure its future at its site in Flimby.
The money will be used to purchase the building it has been renting on a short-term lease, which was due to expire without the option to renew.
Trevor Brough, managing director of Cumbria Metals Ltd, said: “With the ownership of the building secured, we can now focus on growing our business, building upon our existing contracts which include Sellafield, Cumbria Waste Management Group and Egertons Recovery Ltd.”
Wigton-based Ecopower Group develops software to tune vehicle engines to optimise power and efficiency.
It has secured £20,000 towards the £54,000 needed to develop new tools and software for the latest engines in the leading tractor brands.
Birkett Fencing was awarded £16,450 towards a £47,000 investment to develop a range of sustainable bamboo bog mats, used mainly on construction sites as a site road, or access, for vehicles and plant machinery.
The Investing in Business programme targets manufacturing, processing, engineering or fabrication businesses, and tourism attractions.
The aim of the programme is to create jobs by investing in fixed assets such as buildings, plant and equipment or for research and development.
It utilises £5.6m of funding from the Government’s Regional Growth Fund and a further £1m from the Nuclear Decommissioning Authority.
David Jones, head of projects, energy & business support at Britain’s Energy Coast, said: “From metal recycling, engine tuning and the production of new sustainable bamboo bog mats – the Investing in Business programme continues to help a wide variety of businesses.
“This latest round will help unlock a further £2 worth of investment for every £1 we put in, safeguarding and creating at least 11 jobs.”
Businesses operating in Allerdale or Copeland or looking to invest in the area are eligible for the Investing in Business programme.
First published at 13:21, Thursday, 25 July 2013
Published by http://www.newsandstar.co.uk
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