The Isle of Wight Expansion Fund is a £2.46m grant fund that is being administered by the Solent Local Enterprise Partnership in collaboration with the Isle of Wight Council. The fund is designed to help firms expand, start up new activities or diversify with the aim of creating or safeguarding jobs.
A launch event is being held in the theatre at the Quay Arts Centre in Newport on Thursday 23rd January from 11:00to 14:00 where organisations can find out more about the Expansion Fund, the bidding process and investment required.
Ian Stephens, the leader of the Isle of Wight Council said:
“The council has been working very closely with the Solent LEP in applying for the funding and now in delivering the scheme for local businesses.
“Although this is a fund aimed more at specialist firms, the maritime, composite engineering and advanced manufacturing sectors on the Island do provide high levels of employment here.
“It is very important the council and the Solent LEP work together to help support these industries and strive to support new projects and subsequently new employment opportunities and I would encourage local firms to register for the open day later this month.”
Anyone wishing to book for the launch event should email their name, job title and organisation to [email protected] by Friday 17th January. Places are limited to two per organisation and are allocated on a first come first served basis.