What is the West Lindsey Feasibility Fund?
The West Lindsey Feasibility Fund aims to support early stage development and investment plans by offering grant funding to enable the delivery of specific commercial schemes which will facilitate the creation of new jobs and economic growth across the district. Grants of up to £5k will be available (50% match funded) to assist with professional fees and technical survey work associated with the development of employment sites/land and commercial premises which will support business expansion and investment across the district.
The funding will only be considered for schemes which are at the planning, concept and scoping stage of their development and will require feasibility studies to determine the viability of the business idea from a legal, financial and technical perspective.
Activities eligible for the fund include:
- Architectural fees to support master planning and building development
- Survey work undertaken by professionals in support of sites/land/premises development and planning
- Professional fees for feasibility work in connection with capital equipment and product development
- Other potential feasibility costs will be considered on a project by project basis
- Aid offer under this Scheme is subject to the new subsidy allowances established on Thursday 4 March on the basis of the principles set out in Article 3.4 of the TCA.
- The Feasibility Fund will pay up to 50% of the overall eligible cost (to a maximum of £5k) and applicants will be expected to have private match funding in place in order to apply for the grant
The grant will consider costs relating to the development of new technology/ new product development and/or associated machinery but these will have to demonstrate how they would improve processes and operations within a company of a sizeable scale and how this would lead to increased productivity.