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More than 1,250 Scottish jobs can be created or safeguarded with the help of Regional Selective Assistance (RSA) from the Scottish Government.
Enterprise Minister Jim Mather is today visiting two of the 24 companies in Scotland which accepted more than £19 million from the job creation scheme between April and June 2009.
The companies are:
- Livingston-based ScoMac Catering Equipment Ltd, which designs and manufactures bespoke commercial and retail catering solutions, and has accepted a £190,000 offer to help create 39 jobs
- Gourock-based Invec Solutions Ltd, which repairs and services electrical equipment, which has accepted a £190,000 grant to help create 29 new jobs
Mr Mather said:
"It is very encouraging to visit areas like West Lothian and Inverclyde and see companies determined to expand and create new jobs in a challenging economic climate.
"RSA support shows the Scottish Government's comprehensive economic recovery programme is providing real help to businesses across the country, helping them weather tough conditions and emerge stronger from recession.
"Our recovery programme is already supporting up to 15,000 jobs across Scotland. Going forward, our actions - including accelerated capital spending and more money for affordable housing - have the potential to support and create thousands more jobs over the long term.
"This announcement is a further boost for the Inverclyde economy, coming just days after my colleague Alex Neil announced £1,320,000 funding for Greenock from Scottish Government's £60 million Town Centre Regeneration Fund.
"The pace will not slacken and we will continue to listen to the needs of businesses and communities across Scotland, as I will be doing in West Lothian and Inverclyde today."
Mr Mather's programme in Livingston includes visits to ScoMac Catering, the Alba Innovation Centre and a seminar with stakeholders on maximising West Lothian's contribution to Scotland's economic potential.
In Inverclyde, the Minister will visit Invec Solutions, hold a seminar and sign Inverclyde Council's Single Outcome Agreement.
RSA is the Scottish Government's main national scheme of financial assistance to industry. It is aimed at encouraging investment and job creation in the Assisted Areas (AAs) of Scotland. It also encompasses support available to Small Medium-sized Enterprises in other areas (referred to as Tier 3).
Recent changes to Tier 3 assistance mean that small businesses can now qualify, subject to meeting scheme criteria, for up to 20 per cent (10 per cent for medium-sized companies) of eligible project costs. Tier 3 coverage has been extended to areas of Scotland which had not previously been eligible for RSA support.
Payments of RSA are made in instalments, typically over several years, provided that job and project expenditure targets are met. The amounts quoted here and in the report represent the maximum grant potentially available if the project is satisfactorily completed, and not the amount actually paid to date. All job numbers are based on firms' forecast figures at the time a grant is offered and are subject to change, depending on future economic conditions and other factors affecting the business concerned.