The Cumbria Local Enterprise Partnership (CLEP) is aiming to formally launch the Growing Our Potential Fund in January 2020 subject to receiving final Board approval for the scheme.
Up to £2m will be available for established businesses to support growth, increase productivity, foster innovation and create jobs. The fund can support the delivery of capital improvements for between 10-40% of total project costs with an anticipated lower grant request of £50,000.
In order to be compliant with State Aid regulations, CLEP are intending to administer the grant under either De Minimis or GBER. More information on the rules around both of these regulations can be found in the guidance for the Fund. This also provides an indication of the upper limits for the level of grant available but typically;
- If awarded under GBER – applicants must be able to demonstrate that the total public grant funding they have received must not exceed £1m within the rolling three year period.
- If awarded under De Minimis – applicants must be able to demonstrate that the total public grant funding they have received must not exceed €200,000 over three fiscal years.
The draft guidance and application form for the scheme is attached with the final version anticipated by the beginning of January. The LEP will also be able to confirm the dates for the decision making panels as well as dates for submission at this stage as well.
As a number of businesses within the LEP’s Governance structure have previously expressed interest in capital grant funding support, they wanted to give you early sight of their plans and give you the opportunity to consider if an application might be appropriate.
All projects will need to be completed by 31 December 2020.
The LEP are also particularly keen to hear from applicants who have the ability to fully deliver by 31 March 2020. If your project falls into this category, please do contact them at the earliest opportunity.
If you would like any further information or are intending to submit an application, please contact Corrine Watson, Head of Programme Management at Corrine.email@example.com