Tuesday, 16 July 2013 07:09

Growth fund provides Sussex jobs boost

Written by  Ruralcity Media
Growth fund provides Sussex jobs boost

HUNDREDS of jobs will be created in East Sussex after the county received a multi-million pound funding boost.

East Sussex County Council, in partnership with the Let's Do Business Group, was successful in its bid for a share of £506m offered under the latest allocation of Regional Growth Fund cash.

The funding, announced by deputy prime minister Nick Clegg, will be used for a fresh round of loans and grants to growing businesses for schemes which result in job creation.

The programme in East Sussex, which will roll out later in the summer, is expected to receive around £4m

It will be boosted by an additional £2.7 million in county council funding for business growth.

Councillor Rupert Simmons, the council's lead member for economy, said: "This is fantastic news for East Sussex and will enable us to build further on all the work which has already been done to assist businesses in the county.

A thriving economy and a buoyant jobs market were of paramount importance, said Councillor Simmons.

"This funding will enable us to give even more support to both existing and inward investing businesses which want to grow and develop.

"The money will be allocated to schemes which build for the future by creating jobs and drawing on the wealth of local talent available."

The Regional Growth Fund cash will build on investment made under the council's £6 million Economic Intervention Fund, which was announced last year.

The scheme has already funded projects under East Sussex Invest and the Rural Growth and Employment Fund (RuGEF), for schemes which boost the economy in rural areas of the county.

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