What is the Growth Deal funding Black Country?
The Growth Deals provide funds to local enterprise partnerships or LEPs (partnerships between local authorities and businesses) for projects that benefit the local area and economy. The Black Country Growth Deal ‘Made in the Black Country Sold Around the World’ will drive business growth, give people new skills, test new innovations, invest in transport infrastructure and regenerate key sites for housing and employment in the Black Country.
The main focus of the Growth Deal funding Black Country is on maximising the economic impact of growth opportunities from the automotive, aerospace and construction sectors, capitalising on the Black Country’s key strengths in advanced manufacturing. The Black Country Local Enterprise Partnership (LEP) has obtained £211m through three rounds of growth deals for the period of 2015-2021
In order to be eligible to apply for the fund, your business must meet ALL of the following criteria pertaining to being a Small to Medium Enterprise (SME):
- Fewer than 250 employees
- Annual Turnover of less than 50 million euros
- Balance Sheet less than 43 million euros
- Able to evidence at least 1 year trading history
- Business trading Address in the Black Country (Dudley, Sandwell, Walsall & Wolverhampton)
The Growth Deal, subject to a satisfactory conclusion of the funding agreement, will bring together local, national and
private funding as well as new freedoms and flexibilities to focus on four key priority areas as identified in the LEP’s
Strategic Economic Plan:
- Raising Employability, Education and Skills
- Improving Black Country Business Competitiveness
- Transforming the Black Country Infrastructure and Environment
- Improving Transport Infrastructure
