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Friday, 18 April 2014

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£6.6m fund aims to create 1,000 jobs in west Cumbria

Britain's Energy Coast has launched a new investment programme which it is claimed could help create more than 1,000 jobs and unlock £31 million of private sector investment in west Cumbria.

The ‘Investing in Business’ programme has launched a £6.6m funding pot for businesses which they can use to fund land, buildings, plant or equipment.

It follows a successful bid to the government’s regional growth fund, and financial support from the Nuclear Decommissioning Authority. It is aimed at manufacturing, processing and engineering companies, especially those in the nuclear and renewable energy supply chain. Tourist attractions are also eligible.

Grants of £10,000 upwards will be available for businesses operating in Allerdale and Copeland, or for those looking to move to the area. The programme will run for 15 months with the deadline for applications September 30 next year.

David Jones, head of projects for energy and business support at Britain’s Energy Coast, said it sent out a clear message that “west Cumbria is open for business.”

He said: “Our support will help create and secure more than 1,000 jobs and unlock over £30m worth of further private sector investment – which is great news during these tough economic times.

“This area is facing unprecedented levels of investment in the energy sector so it is important to help businesses and newcomers capitalise on the opportunities this will create.”

Brian Wilson, chair of Britain’s Energy Coast, said: “This allows us to launch a sizeable investment programme to help create a more entrepreneurial west Cumbria.”

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