North Devon+ Welcomes Assisted Area Status1st May, 2014
North Devon+ has welcomed the announcement by government that additional areas in Northern Devon have been recommended for Assisted Area Status.
Assisted Area Status determines the locations that are eligible to receive additional economic support across the UK.
The areas recommended for Assisted Area Status include several wards in Torridge and North Devon.
Andy Lobato, North Devon+ Chairman said:
“Assisted Area status will be a massive boost for inward investment, growth and sustainable employment across Northern Devon. Assisted Area status makes large businesses eligible to apply for regional aid, with improved intervention rates for small and medium enterprises (SMEs).
“Support is typically offered as capital investment for businesses in less prosperous local economies. Programmes in England that offer regional aid include the Regional Growth Fund (RGF). This news on the back of the recent multimillion RGF 5 program awarded to North Devon+ should materially help businesses in Northern Devon.”
For further information on Assisted Area Status visit https://www.gov.uk/government/consultations/assisted-areas-map-2014-to-2020-stage-2.