Leicestershire to benefit from EU funding boost
Industries in Leicestershire, UK, are set to benefit from £50.3m (~€55m) of European funding despite the UK’s referendum vote to leave the EU.
The Leicester and Leicestershire Enterprise Partnership (LLEP), which will be allocating the money, has just received confirmation from the government that the funding will go ahead.
Some of the funding had looked uncertain after the UK voted to leave the EU on 23 June.
However, Sajid Javid, Secretary of State for Communities and Local Government, wrote to local enterprise partnerships across the country, assuring them that European Structural Investment Funds (ESIF) projects would still continue to receive the money, which come from the European Regional Development Fund (ERDF), part of the ESIF.
Some of the projects set to benefit from the funding include the LLEP’s Business Gateway, which offers Leicester and Leicestershire businesses support.
Nick Pulley, chair of the LLEP, said: “The certainty around ERDF funding is very welcome.
“It allows the LLEP to continue its various programmes with confidence – these programmes make a really positive benefit to the city and county’s economy.
“Javid confirmed last week that the current funding guarantee for ERDF projects, who signed up before the Autumn Statement, will now extend to all of the projects which signed up prior to the UK leaving the EU.
“Even if the work for a project continues after Britain has left the EU, it will still be funded.
“We will therefore be releasing calls for activities before the end of the year for innovation, ICT, low carbon, skills and employment projects.”
Around £8.7m will fund innovation projects within Leicestershire, £4.7m will go towards developing information and communications technology, products, services and e-commerce, £21.4m will help Small and medium-sized enterprises (SME) grow their businesses and £15.5m will help advance the low carbon economy.
