William Eichler 03 March 2020

North of Tyne mayor announces nearly £20m funding package to ‘boost’ business

The mayor of North of Tyne has announced a £19.75m funding package to support business growth and innovation.

Mayor Jamie Driscoll said the money would boost rural economies, and bring new investment to Newcastle, Northumberland and North Tyneside.

The money is part funded by the European Regional Development Fund (ERDF) and will unlock a further £20m in private investment.

‘This money will help the North of Tyne business community in three different ways,’ Mayor Driscoll said.

‘There’s money for firms wanting to expand or try new things and which need the support to do so.

‘There’s money for foreign or UK owned businesses who want to make their first investment in the region.

‘And there’s money to help rural businesses scale up and to provide the business advice and support they need to do so.’

The investment is the result of cooperation between the North of Tyne Combined Authority (NTCA), the business community and the three local authorities of Northumberland County Council, North Tyneside Council and Newcastle City Council.

‘It’s great that we’ve been able to work together to draw down these ERDF funds and make an offer to business that will result in real growth and jobs,’ Mayor Driscoll said.

North of Tyne cabinet member for Economic Growth, Cllr Bruce Pickard, commented: ‘Support for business is key to the North of Tyne devolution deal.

‘We’re committed to seeking ways to unlock potential, create conditions for businesses to flourish, nurture investment, and support long term opportunities for growth.

‘This money will support both existing businesses and inward development.’

Leader of Northumberland County Council, Peter Jackson, described the funding announcement as ‘excellent news’.

‘This funding will address the scale up challenges faced by our businesses with growth potential in rural areas, supporting them to access suitable finance products, enabling growth and maximising opportunities,’ he said.

‘The scheme will help drive increased productivity and business performance, encouraging more overseas trading and incentivising business innovation in the county.’

Can local government take much more? image

Can local government take much more?

Dr Andrew Walker, head of Research, LGIU reflects on the Autumn Statement and asks: what might it take for the Government to pay attention to local authorities?
Getting the most out of LGPS funds  image

Getting the most out of LGPS funds

Isio partner and Public Services leader Steve Simkins reflects on the Autumn Statement announcement of a surprise Local Government Pension Scheme (LGPS) target.
SIGN UP
For your free daily news bulletin
Highways jobs

Director of Safeguarding and Support

Swindon Borough Council
£95,171 (spot salary)
Improving outcomes for our children and young people in Swindon... Swindon, Wiltshire
Recuriter: Swindon Borough Council

Principal Social Worker / Care Manager - Northampton Central, North and East

West Northamptonshire Council
£40316 - £43675
What will you be doing? As a champion of social work, you’ll lead by example, using your skills to encourage a culture of innovation, reflection and learning within the service, using practice evaluations and learning reviews to inform this work. The ex Northampton
Recuriter: West Northamptonshire Council

Data Officer - 18 month Fixed Term Contract

Essex County Council
£22361 - £24527 per annum + + 26 Days Leave & Defined Benefit Pension
Data OfficerFixed Term - 18 months duration, Full Time - 37 Hours Per WeekUp to £24,527 per annumLocation
Recuriter: Essex County Council

Customer Service Assistant

Essex County Council
Up to £22361 per annum
Customer Service AssistantPermanent, Part TimeUp to £22,361 per annum (FTE)Location
Recuriter: Essex County Council

Customer Service Assistant

Essex County Council
Up to £22361 per annum
Customer Service AssistantPermanent, Full TimeUp to £22,361 per annumLocation
Recuriter: Essex County Council
Linkedin Banner

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.