Building investment grants available in the Marches
Published April 18th, 2017
Grants of up to £100,000 are available for businesses across the Marches looking to revamp their buildings and create new jobs. The £2.5 million fund has been launched by the Marches Local Enterprise Partnership (LEP).
Marches Building Investment Grant (MBIG) is available for eligible businesses to fund extensions, renovations or reconfigurations of commercial premises across Herefordshire, Shropshire and Telford & Wrekin.
The scheme is part-funded by the European Regional Development Fund to help small to medium sized enterprises who supply products and services to other businesses to expand and grow.
Grants can be for up to 45 per cent of the total project costs (up to a maximum £100,000) and applicants can be owner-occupiers or tenants. Eligible projects should also aim to create at least one full-time job within four months of completion.
“If your business is constrained by your current premises and workspace you may be eligible to receive grant support,” said Ben Corbett, partner of Berrys in Herefordshire.
“The grant is available to renovate, extend or reconfigure premises but is unable to fund core farming operations, residential development, purchase of buildings and businesses involved in the retail sale of goods and services to the general public.
“Applicants who are tenants must have a fixed term lease with at least six years unexpired and the total job creation projections will be taken in to consideration when assessing the level of grant to award,” he added.
Grants are paid towards the costs directly associated with the conversion/alteration of a building and the funds cannot be used towards the cost of purchasing the property, equipment, or ‘excessive’ landscaping.
Full details of eligibility can be found by contacting either Caroline Cattle (Programme Manager) or Alison Rogers (Finance Officer) on firstname.lastname@example.org or by calling the Marches Growth Hub team on 0345 6000 727.
The Marches Building Investment Grant scheme is being managed by Herefordshire Council, the accountable body for the scheme.
For advice and help with an application contact Ben Corbett or Vicky Price at the Hereford office of Berrys at Newchurch Farm, Kinnersley on 01544 598081, email email@example.com or Vicky.price@ berrys.uk.com