There are 3 main elements to this fund.
1) SSI Supply Chain Support Scheme
This scheme aims to support all supply chain companies nationwide affected by the closure of SSI.
It will provide short term immediate grant aid in the form of working capital to support these companies to continue trading or to seek new business.
The scheme will operate under the de minimis state aid rules with the maximum grant available capped at 200,000 Euros.
2) Capital Grant Scheme
This scheme aims to support all supply chain companies nationwide affected by the closure of SSI plus most manufacturing and service sector companies (offering more than a local service) based in the Tees Valley.
All projects must involve capital expenditure by the applicant company aimed at expanding their business.
The minimum grant that can be applied for under this scheme is £10,000 per project.
For companies in the SSI supply chain the maximum grant is up to 50% of costs - capped at 200,000 Euros (de minimis)
For other Tees Valley companies the maximum grant is up to 30% of costs - capped at £49,999.
3) Tees Valley Small Grant Scheme
This scheme aims to support most manufacturing and service sector companies (offering more than a local service) based in the Tees Valley, helping them to grow their business and the local economy in response to the closure of SSI.
The scheme offers small grants so companies can access external expertise and professional services.
It will operate under the de minimis state aid rules with a maximum contribution of 50% of the eligible costs.
The minimum grant that can be applied for is £2,500 and the maximum is £25,000.
All three schemes are administers by BE Group on behalf of Tees Valley Unlimited.
For more information and how to apply contact 01642 939 386 or [email protected]
For further information, links and contacts please login / register.