MANCHESTER City Council has launched a new fund to support research and development-related employment in the area known as The Corridor.
The maximum grant any one applicant can receive during the three-year period is around £169,500.
The £2 million Corridor Growth Fund, supported by the Government's Regional Growth Fund, will provide grant funding to qualifying applicants to help underpin the private sector-led growth of the knowledge economy in this part of Manchester.
The scheme, aimed predominantly at small and medium-sized enterprises, will operate from 1 April 2013 until 31 March 2015 and is expected to support the creation of at least 100 full-time jobs.
The maximum grant any one applicant can receive during the three-year period is around £169,500 (200,000 Euros.)
The Corridor covers some 243 hectares with a 55,000 strong workforce. It is home to two of the UK's leading universities and the largest clinical academic campus in Europe.
The Regional Growth Fund (RGF) is a £2.6 billion fund operating across England from 2011 to 2016. It supports projects and programmes that lever private sector investment to create economic growth and sustainable employment.
The first three rounds will generate over £13 billion of private sector investment and create or safeguard over 500,000 jobs. The fourth round of RGF will make a further £350 million available in the pot and bidding has now closed. For more information please click here.
Sir Richard Leese, leader of Manchester City Council, said: "Manchester has an incredibly strong science and research base and building on that is going to be an important element of the city's growth. This fund should help incentivise businesses to locate in the Corridor area, attracting further jobs and investment.”
Businesses interested in applying for grants via the Corridor Growth Fund should contact corridorgrowthfund@manchester.gov.uk or info@corridormanchester.com
