Assistance to Industry is part of Blackburn with Darwen’s capital programme and is used to award grants to companies which support the Authority’s corporate priority of creating jobs and supporting businesses in the Borough.
Who is eligible?
Funding is available to manufacturing/production companies located in, or relocating into the Blackburn with Darwen area, who have an investment project which will lead to new jobs being created.
What items can the grant support?
The grant funding can be used to support investment in capital costs such as:
- Plant and machinery
- Property improvements
- Building expansions
- Infrastructure improvements
Items not supported usually include revenue costs such as rent, salaries and business rates.
How much funding is available?
The maximum grant available to a company is 20% of the total eligible project costs, up to a maximum of £10,000. This is also linked to the number of new jobs that the project will create.
Can the grant be used for items that have already been purchased?
No. Any items purchased or ordered prior to an offer letter being issued will be considered ineligible and no grant paid towards them.
How long does the process take?
The time it takes to process each application is largely dependent on upon the time it takes the applicant to provide all of the information required. Upon receipt of all information, the Council will endeavour to notify applicants of a decision within 2 weeks.
What additional information is required?
In addition to the application form, we will require:
- One written quotation for each element of proposed investment
- A copy of the last two years full accounts
- A copy of the most recent annual Director’s report
- A two year cash flow forecast for companies trading for less than 36 months
- Copies of any asset finance or lease/hire purchase agreements if applicable
When is payment received?
Typically, 50% of the grant will be paid upon the applicant’s defrayment of all project costs, with the remaining 50% to be paid upon new employees starting in post.
Should you wish to apply, or if you would like further information, please call a member of the Regeneration team on 01254 666490.
Please see the guidance notes for more information.