Tuesday 01 Jul 2008 @ 11:30
Yorkshire Forward
Yorkshire Forward
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Yorkshire Forward Announces First Investment of New European Regional Development Funding
Two projects in North Yorkshire will be the first to benefit from the £400 million of European funding that has been made available for investment in the region over the next six years.
£2.5 million from the European Regional Development Fund is being invested in two separate managed workspace developments in North Yorkshire being brought forward by Hambleton District Council. The £6 million scheme has also attracted almost £2 million of public investment from Yorkshire Forward.
The new European Regional Development Fund programme aims to boost competitiveness and employment in the region by 2013.
The programme draws funding from the European Regional Development Fund, one of the European Union’s major financial instruments for supporting regional economic development across Europe. The funding is provided to help redress imbalances in development between regions and help local economies address the challenges of globalisation so that they can contribute to delivering Europe’s Lisbon Strategy of growth and jobs.
The Programme has four investment priorities, three of which are available across the whole region: promoting innovation and R&D, stimulating and supporting enterprise, and developing sustainable communities. The fourth priority, economic infrastructure for a competitive economy, provides extra funding for South Yorkshire to ease the transition as it moves out of Objective 1 status.
Welcoming the announcement of the first investment ,Trevor Shaw, Executive Director, Finance for Yorkshire Forward said:
“This investment is an important first step in delivering a range of projects that will bring jobs and business growth to communities across Yorkshire and Humber.
“European funds play an important role in helping to bring local development initiatives to fruition while contributing to the delivery of the regional economic strategy.”
“We expect this to be the first of many announcements between now and 2013 as we invest European money to increase competitiveness and employment.”
This first investment is supporting development of two managed work space schemes, one in Leeming Bar, the other in Northallerton. Six 1,500 sq ft starter units and four larger 3,000 sq ft grow-on units are being constructed in Leeming Bar targeted at the secondary food industry sector. The smaller spaces will only be offered to start-up businesses or those less than two years old, while larger units will be available to more established firms. The development also includes a 1,000 sq ft test kitchen for tenants to develop new product ranges.
The second scheme creates 20,000 sq ft of offices in Northallerton, comprising 14,000 sq ft to let as 20 office units along with shared meeting rooms, services and management space. The developments will lead to around 100 new jobs and support the creation of 21 new businesses.
Notes to Editors
Yorkshire and The Humber ERDF Programme 2007-2013
The regional ERDF Programme, approved in December 2007 was launched in February 2008.
The programme is managed by Yorkshire Forward and is overseen by the EU and National and Regional Government bodies.
The programme provides €583 million from the European Regional Development Fund to invest in the region by 2013.
Over the past year, Yorkshire Forward has created and safeguarded more than 22,254 new jobs; helped create and attract more than 1067 new businesses, assisted 60,005 people in skills, and attracted £467m in investment - achieving or exceeding all of the targets it was set.
For further information, please contact Janice Crich, Press Manager, Yorkshire Forward, Tel 0113 394 9715; e-mail janice.crich@yorkshire-forward.com or Fax 0113 243 1088. Further information about the ERDF Programme in Yorkshire and The Humber is available at www.yorkshire-forward.com/erdf
£2.5 million from the European Regional Development Fund is being invested in two separate managed workspace developments in North Yorkshire being brought forward by Hambleton District Council. The £6 million scheme has also attracted almost £2 million of public investment from Yorkshire Forward.
The new European Regional Development Fund programme aims to boost competitiveness and employment in the region by 2013.
The programme draws funding from the European Regional Development Fund, one of the European Union’s major financial instruments for supporting regional economic development across Europe. The funding is provided to help redress imbalances in development between regions and help local economies address the challenges of globalisation so that they can contribute to delivering Europe’s Lisbon Strategy of growth and jobs.
The Programme has four investment priorities, three of which are available across the whole region: promoting innovation and R&D, stimulating and supporting enterprise, and developing sustainable communities. The fourth priority, economic infrastructure for a competitive economy, provides extra funding for South Yorkshire to ease the transition as it moves out of Objective 1 status.
Welcoming the announcement of the first investment ,Trevor Shaw, Executive Director, Finance for Yorkshire Forward said:
“This investment is an important first step in delivering a range of projects that will bring jobs and business growth to communities across Yorkshire and Humber.
“European funds play an important role in helping to bring local development initiatives to fruition while contributing to the delivery of the regional economic strategy.”
“We expect this to be the first of many announcements between now and 2013 as we invest European money to increase competitiveness and employment.”
This first investment is supporting development of two managed work space schemes, one in Leeming Bar, the other in Northallerton. Six 1,500 sq ft starter units and four larger 3,000 sq ft grow-on units are being constructed in Leeming Bar targeted at the secondary food industry sector. The smaller spaces will only be offered to start-up businesses or those less than two years old, while larger units will be available to more established firms. The development also includes a 1,000 sq ft test kitchen for tenants to develop new product ranges.
The second scheme creates 20,000 sq ft of offices in Northallerton, comprising 14,000 sq ft to let as 20 office units along with shared meeting rooms, services and management space. The developments will lead to around 100 new jobs and support the creation of 21 new businesses.
Notes to Editors
Yorkshire and The Humber ERDF Programme 2007-2013
The regional ERDF Programme, approved in December 2007 was launched in February 2008.
The programme is managed by Yorkshire Forward and is overseen by the EU and National and Regional Government bodies.
The programme provides €583 million from the European Regional Development Fund to invest in the region by 2013.
Over the past year, Yorkshire Forward has created and safeguarded more than 22,254 new jobs; helped create and attract more than 1067 new businesses, assisted 60,005 people in skills, and attracted £467m in investment - achieving or exceeding all of the targets it was set.
For further information, please contact Janice Crich, Press Manager, Yorkshire Forward, Tel 0113 394 9715; e-mail janice.crich@yorkshire-forward.com or Fax 0113 243 1088. Further information about the ERDF Programme in Yorkshire and The Humber is available at www.yorkshire-forward.com/erdf
