£4 million cash boost to economy

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Businesses wanting to grow or relocate to East Sussex are being invited to apply for a share of £4million.

The money was awarded to East Sussex County Council following a successful bid to the government’s Regional Growth Fund, which is support designed to create jobs and boost the local economy.

Working in partnership with Locate East Sussex, the county council is encouraging local businesses to apply for an East Sussex Invest 3 grant or loan.

“A thriving economy and a buoyant job market are of paramount importance, but many businesses struggle to expand in the current climate,” said Councillor Rupert Simmons, the county council’s lead member for the economy.

“We are delighted to have been awarded this money which will make it possible for small businesses to grow and create new, local jobs.

“We are committed to working with Locate East Sussex to ensure these funds make a real difference in East Sussex.”

Grants of up to £5,000 are available for small and start-up companies that have 50 per cent match funding.

Financial support for companies employing fewer than 250 people comes in the form of a three to five year loan with an interest rate of up to five per cent or a mix of grant and loan dependant on the number of jobs being created.

Philip Johnson, director of Locate East Sussex, said, “As the county council’s key partner, we are committed to attracting more inward investment to East Sussex from companies planning to expand their current base or relocate.

“We are keen to stress that our Regional Growth Fund grants and loans are available to companies based in East Sussex and those outside the county seeking to relocate to the area and look forward to receiving applications.”

Companies wanting more information or to apply should email geoffrey.mann@locateeastsussex.org.uk or call 0844 4159255, or visit www.locateeastsussex.org.uk