Businesses in Pendle have so far been awarded over £1m in capital grants through a programme delivered by Regenerate Pennine Lancashire, creating and safeguarding over 240 jobs, and encouraging over £5m private investment.
Accelerating Business Growth, which is supported by the Government’s Regional Growth Fund, helps businesses in Lancashire grow and create new jobs by contributing funding for a range of projects such as new machinery and property expansion.
Since the programme launched in November 2012, 16 businesses in Pendle have been assisted, receiving an average grant amount of £66k. Businesses in the borough that have been supported by the programme include LED lighting manufacturer ACDC, raincoat firm Mackintosh and global textile producer Panaz.
Paul McNulty, Finance Director at ACDC, said:
“The grant from Regenerate helped us purchase machinery and expand our product range faster. It was a big help as without it the project would have taken much longer, delaying the creation of new jobs or even preventing them”.
Pendle Council are backing the grants. Councillor Paul White, who is responsible for Economic Development, Enterprise and Growth in Pendle, said:
“The news that £1million in grant funding has been accessed by Pendle businesses is very positive; as it shows that they are investing in growth and creating new opportunities for local people. The Council strongly encourages others who think they could benefit from the funding to get in touch with Regenerate.”
Grants are available from Regenerate to help both new and existing businesses.
