European funding win for South Yorkshire

SOUTH Yorkshire’s economy has been given a boost following the securing of £3m of investment for sectors including advanced manufacturing and the creative and digital industries.

The South Yorkshire Sector Growth Enhancement Programme will support both inward investors and expanding businesses.

Its aim is to accelerate private sector expansion, including job creation and increasing the competitiveness of targeted SMEs displaying high growth potential.

Economic development body Creativesheffield, in partnership with Barnsley Development Agency, Invest in Doncaster and Rotherham Investment & Development Office, has secured the European Regional Development Fund (ERDF) investment to fund the programme.

The four year programme budget is approximately £3m, of which £2m is coming from the Yorkshire & Humber ERDF Operational Programme.

The remainder will be provided by the four South Yorkshire local authorities.

David Fletcher, director of business investment at Creativesheffield, said: “Our key account management activities to date have been mainly focused on growing the larger private sector employers in the region.

“However, this funding allows us to develop this activity to identify and support high growth SMEs – a key element of the local economy.

“This programme builds on the very successful partnership working between the four investment teams across South Yorkshire. Over the last three years, this partnership supported the creation of over 4,000 new jobs and over £250m of private sector investment.”

Coun Julie Dore, leader of Sheffield City Council, added: “This is great news for the economic development of our city and the wider region. Sheffield City Council is committed to facilitating business growth and creating high quality employment opportunities throughout our communities.

“This additional ERDF funding means that we can continue to support our business community to achieve this important objective.”