Mike welcomes new Business Funding

new-medway

News from Medway Council website

New jobs and new investment will bring about roaring success when new funding starts reaching businesses across Medway, North Kent and Thurrock.

That was the message from the launch of TIGER – Thames Gateway Innovation, Growth and Enterprise – scheme in North Kent this morning (Thur 21 Mar).

The scheme, one of 130 nationally to receive money from the government’s £2.4billion Regional Growth Fund, was given its official kick start at Princes Park in Dartford.

TIGER will offer low-interest loans to businesses investing in new products and services and creating long term job opportunities with the aim of attracting further investment from the private sector. Initially TIGER will be aimed at media, ICT, manufacturing, tech development, environmental and low carbon businesses.

The new scheme, operated by Thames Gateway Kent Partnership with council partners Medway, Gravesham, Swale, Dartford, Thurrock and Kent County Council as well as backing from local businesses, won Regional Growth funding in October.

Cllr Rodney Chambers, leader of Medway Council, said: “This government backing for this £20 million funding scheme announced last year is welcomed and is the catalyst needed to bring about the kind of economic growth this area needs.

“For some time we have focussed our efforts on putting the right conditions in place that will attract wealth creating, high skilled businesses to Medway. This fund has the potential to take these efforts to the next level.”

Cllr Jane Chitty, Medway Council’s Portfolio Holder for Strategic Development and Economic Growth, added: “This fund offers a real opportunity for successful businesses looking to base themselves in Medway and the rest of Kent or looking for financial support to expand their operations.

“It has the potential to provide the kind of investment needed to create more skilled jobs; jobs that will play such a vital role in growing the local economy and its wider regeneration.”

Ends

To find out more about the scheme email: business.support@medway.gov.uk – Businesses will be able to apply online at www.medway.gov.uk/TIGER from 8 April.

The Regional Growth Fund is a national fund worth £2.4 billion, which aims to support the creation of private sector jobs, especially in areas dependent on the public sector for employment.

TIGER funding will be available throughout North Kent (Dartford, Gravesham, Medway and Swale) and Thurrock.

The Thames Gateway Kent Partnership is a private and public sector partnership with representatives drawn from across the North Kent business, local authority and higher/further education community. It aims to create the best conditions possible to attract investment and deliver sustainable, private sector-led economic growth across North Kent.

There have been two previous rounds of RGF funding. In the last round, Kent secured £35 million for Expansion East Kent (which offers loans to businesses for investment projects which will lead to job creation) and £5 million for rail improvements between Ashford and Ramsgate.

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