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December 8, 2019
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Finance

Leeds dangles 1m funding carrot to draw digital technology companies Magazine

Funding of 1m has been told her i would encourage digital businesses to relocate to Leeds City Region, when the digital technology sector is booming.

The financial resources are recommended because of the Leeds City Region Enterprise Partnership, which says the Leeds digi-tech sector employs 102,000 people and is particularly worth 6.6bn to the economy.

The new fund, which forms component of a bundle of economic support available with the Leeds City Region Enterprise Partnership, has long been created to help de-risk business expansion by giving grant funding against capital expenditure, such as new equipment including computers and executive desks.

The Digital Inward Investment Fund is 1m of funding from West Yorkshire Combined Authority and Leeds City Region Enterprise Partnership through the Leeds City Region Growth Deal C a 1 billion package of presidency investment to accelerate growth and create jobs across Leeds City Region

Kersten England, Ceo of Bradford Council and also the Leeds City Region Lead Leader for Business Innovation and Growth, said:”The city region has significant strengths across various sectors and it is gaining a universal reputation like a leading centre for technology.? Over the past 1 . 5 years we view our strengths in this sector recognised by growing levels of investment from both businesses perfectly located at the UK and overseas. We believe until this new fund helps the spot to stay to acquire and enjoy the best digital businesses.

“Indigenous businesses continue to profit from your LEP products already available to buy so that you can allow us to deliver inclusive economic growth.

“With our strong tradition of enterprise and innovation, town region is perfectly placed to help make the many of the many opportunities the actual fourth industrial revolution is bringing.”

Businesses already found in the region will never be qualified for this support even though they can access other funding streams offering with the LEP Growth Service, including:

  • Access Innovation
  • LEP Capital Grants
  • LEP loans
  • Resource Efficiency Fund
  • Strategic Business Growth

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