The first three rounds of Growth Deals saw Coast to Capital secure an allocation of £292m from 2015-2021 to invest in capital projects or as allocations of funding to run as competitive rounds. All projects funded from the Growth Deal are expected to contribute towards the Coast to Capital Strategic Economic Plan, the Coast to Capital Industrial Strategy Response and the Coast to Capital Business Plan 2017/18, to deliver economic outputs such as new jobs, homes and/or employment space.

Coast to Capital have launched a new call for growth projects that will be funded from unallocated Growth Deal 1 and 2 funds. We are looking for high impact projects that will make a real difference within our region under the following themes:

 

  • Investment in capital expenditure items that provide digital transformation and digital infrastructure
  • New innovation and start up business creation
  • Facilities to provide teaching and research facilities and/or skills based training in digital and innovation areas, across further and higher education sectors in close proximity to the M23, A23 corridor (This is open to all educational facilities within the Coast to Capital region)
  • Increased capacity in sustainable transport and ‘key’ arterial routes where  there are ‘bottlenecks’, together with flood resilience and digital infrastructure investment
  • Investment in capital projects where there is a demonstrable case that such investment will generate proportionate foreign direct investment and international trade
  • Regeneration and housing infrastructure projects that increase capacity and footfall and unlock new employment space
  • Capital investment to increase high value tourism to the Coast to Capital region 

The minimum funding that can be applied for is £100,000 and the maximum is £5,000,000. This has been split out into 2 categories – small projects between £100,000-£500,000 and large projects between £500,001-£5,000,000. The same business case template and supporting excel spreadsheet is required for both. All projects will need to be match funded. Matched funding must be at least the required percentage of the total project costs. This is 15% for transport projects and 50% for all others.

 

As with previous rounds, the Local Growth Fund can only be used to fund capital expenditure as per the CIPFA guidelines.  Match funding can be used for revenue expenditure if required, but projects which are entirely revenue expenditure cannot be considered. Projects will also need to provide robust evidence of State Aid compliance. For the avoidance of doubt, unless adequate and conclusive independent state aid advice has been obtained and submitted with the application form, applications will not be accepted or evaluated, It is therefore very important to consider and address state aid adequately within your applications whether you are a public sector body or a private company.

 

How to apply

 

The Call for projects will be open until 12 noon on Friday 8 September 2017 any application received after this deadline will not be considered for funding. Applications should be submitted electronically to localgrowthfund@coast2capital.org.uk Submissions will be acknowledged within 24 hours. Subject to any changes to deadlines, the project appraisal and prioritisation process will take place throughout September to November 2017 and you should be informed on whether your project has been successful by the end of November 2017.

 

Each project will need to complete the business case template and supporting excel spreadsheet, both of which can be downloaded from the related resources section of this page on the right hand side.

 

If you have any questions related to this call please send them by email to localgrowthfund@coast2capital.org.uk For enhanced transparency we will publish a FAQ section on the website with our responses to any questions asked.

 

 For more information including the criteria used to assess bids, please download and read the guidance notes in the 'Related Resources' box to the right hand side.

 

Please ensure you use the guidance notes and the short summary for state aid basics when completing the business case. 

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