£6.5m funding boost for Yorkshire manufacturing SMEs to secure 3,500 jobs
SME manufacturers in Yorkshire are set to benefit from multi-million pound funding after additional backing has been given to an existing scheme.
The Manufacturing Growth Programme (MGP), which is funded by ERDF and delivered by Oxford Innovation Services, has been extended until December 2022.
The £6.5m initiative extension will enable manufacturing SMEs across the region to access support and grants to help them grow their businesses and safeguard against the disruption caused by COVID-19.
It is expected that the additional backing will safeguard and create 3500 new jobs throughout the region.
Since its launch in October 2016, the MGP has supported more than 850 companies. Martin Coats, MGP managing director, commented: “All the media attention is on the headline manufacturers and how they are coping in the wake of Covid-19…it’s our job to look at how the smaller manufacturers supporting these big businesses are performing and what we can do to help them.
“As the economy recovers, it will be important to shift this pattern back, ensuring that support reaches larger SME manufacturers as well and delivers projects that rebuild capacity. The MGP is more important than ever in achieving this.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →