What are emda’s priorities?
As part of our extension to the scheme, we are particularly interested in discussing investment projects that meet some of the regional priorities that are outlined in the East Midlands’ Regional Economic Strategy (RES), ‘A Flourishing Region’.
These priorities relate mainly to the quality of the project. Although projects that are not able to meet these priorities will still be assessed by emda, they will not necessarily be considered to represent a high quality project.
The regional priorities for the East Midlands are:
Manufacturing
Although projects from the service sector will be accepted in order to diversify and strengthen the regions’s economic base, applications from the manufacturing sector are actively encouraged.
Priority sectors
The RES identifies four priority sectors that are important to the future economic growth of the East Midlands. These are: Construction, Food and Drink, Healthcare and Transport Equipment. Applications from these priority sectors will be actively encouraged.
The RES also identifies a number of enabling technologies that contribute to the development of all sectors in the region’s economy. These technologies include Advanced Materials, Digital Technology, Environment and Energy, Global Navigational Satellite Systems and Micro and Nanotechnology. Projects involving enabling technologies will be actively encouraged.
Innovation
We want to develop a dynamic region founded on innovative and knowledge focused businesses competing successfully in a global economy. Applicants will be expected to demonstrate a commitment to innovation and R & D through the regular introduction of new products, processes and services, significant annual spend on R & D and a unique selling point either in terms of product, process or service.
Business support
We consider that the link between wider business support and offers of public funding, such as GBI, is crucial to the success of an investment project and, ultimately, the business. Businesses will be expected to be already participating on wider business support programmes, such as the Manufacturing Advisory Service (MAS), or programmes involving innovation, mentoring or sectoral support, before applying.
Further information can be found on the MAS website.
Market growth
We also consider that the risk of displacing existing jobs in similar businesses elsewhere in the East Midlands and the rest of the country is higher with a region-wide scheme. Applicants will be expected to specifically demonstrate a wider geographical spread of sales turnover (outside of the East Midlands and, potentially, the country) in niche markets or markets exhibiting growth or potential growth, as a result of their project.
Economic renewal
We want to ensure that all people and communities in the East Midlands have the opportunity to create new and sustainable economic futures. Therefore, applications are actively encouraged from businesses and projects located within the 20% most deprived wards in the East Midlands and from SMEs that are female owned or managed and / or ethnic minority owned or managed.
Higher quality
The Department for Business, Innovation and Skills criteria for the scheme partly measures quality on the basis of raising productivity and improvement in the skills base. We particularly want to increase the quality of projects that are supported through GBI.
We want the East Midlands to become a region of highly productive, globally competitive businesses. We also want to move more people into better jobs in growing businesses.
Projects will be expected to enable your business to achieve an above average growth in productivity compared to sectoral and national averages. For Further information please click on ‘The GVA test ’
Projects will also be expected to raise the average skills level of the existing workforce, and any jobs created or safeguarded as a result of the project, well above NVQ Level 2. For access please click on 'The Skills test'
Previous financial support
In order to maximise the potential impact of the scheme across the whole of the East Midlands, applications will be encouraged from businesses that have not previously received grants through GBI, Selective Finance for Investment in England, Regional Selective Assistance or the Enterprise Grant Scheme (predecessor grant schemes to GBI).
Links:
Information on:
Regional Economic Strategy, ‘A Flourishing Region’
Manufacturing Advisory Service (MAS)
Downloads on:
The GVA test [File type: MS Excel, File size: 28 KB]
The Skills test [File type: MS Excel, File size: 22 KB] |
Grant for Business Investment (GBI)
