Assistance programme to support local businesses.
To build on the assets of the area, Birmingham City Council has launched the Tyseley Property Assistance Programme (TPAP) to support the growth of new and existing businesses in Tyseley. The programme is part-funded by the European Regional Development Fund (ERDF) Priority 3 'Sustainable Urban Development'; the ERDF programme is managed by the Department for Communities and Local Government. TPAP will develop and improve the industrial property of Tyseley, providing financial assistance that will enable businesses to proceed with expansion plans. It will help local businesses improve their premises, access and infrastructure, and assist in boosting performance and employment growth. It will encourage funded businesses to become environmentally conscious in their property planning and projects.
Studies have demonstrated the potential for new business space in Tyseley, and a corresponding interest in businesses, particularly relating to the development of resource recovery, power generation and environmental technologies to invest in the area.
Waheed Nazir, Birmingham City Council's Director of Planning and Regeneration, said, "Providing financial support to existing businesses, attracting new ones and developing the environment for growth in a sustainable way is crucial to the ongoing regeneration of Tyseley and Birmingham as a whole. TPAP forms part of the city council's wider aspiration to establish Tyseley as an 'Environmental Enterprise District' as part of Birmingham's draft Core Strategy".
The concept of the Tyseley Environmental Enterprise District (TEED) supports the creation of new sustainable investment opportunities, resource recovery and energy production to benefit industrial growth and supply chain development within the area.
A number of local businesses are already developing plans to utilise underused or redundant premises and sites. The building of new developments and refurbishment of redundant workspace will enable Tyseley to offer business accommodation from small workshops, purpose-built industrial parks, to large sites suitable for major relocations.
To support larger schemes, the city council is hopeful of securing a further pounds 2 million ERDF to run a competitive programme of larger (over pounds 100,000) grants for small and medium-sized businesses. The programme would be delivered through a competitive application process, with the city council seeking eligible applications that demonstrate 'Key Opportunities' for achieving business expansion and job outcomes in the TEED area. If the funding is secured, the programme will be announced in the coming months. Local business support is already on offer: the Enterprise Catalyst Project, supported by over pounds 2 million ERDF funding - to be matched by Birmingham City Council, partners and the private sector - aims to reduce the barriers to the creation or expansion of a business and provides comprehensive support for a business idea, from inception to completion.
For more information, follow the Enterprise Catalyst link on www.birmingham.gov.uk/enterprisingcommunities Another source of potential funding for existing businesses in Tyseley, as well as across the city and neighbouring areas, is the Greater Birmingham and Solihull Local Enterprise Partnership Business Development Programme.
There are plans being developed to aggregate up to pounds 8 million of funding to deliver this programme. The council is hopeful to secure ERDF funding as part of this package for a comprehensive financial assistance scheme to support established businesses, including high growth ones, to stimulate private sector investment for business consolidation and growth.
For more information, visit www.birmingham.
gov.uk/supportforbusinesses Tyseley Property Assistance Programme (TPAP) pounds 2.3 million programme launched in May 2011 and runs until December 2015 part-funded by the European Regional Development Fund (ERDF) featuring pounds 0.9 million public funding for grants, to be matched by businesses' investment. The funds will support the provision of business space through site development, new build or refurbishment of industrial premises, leading to increased business activity and jobs. Grants are available at up to 50% of eligible costs, with a maximum grant of pounds 100,000, for eligible small and medium-sized enterprises located in (or newly-moved to) the Tyseley Environmental Enterprise District.
Applications for grants are subject to ERDF eligibility criteria, a financial appraisal of the business and a value for money appraisal for each project. To find out how to receive support through TPAP, contact Birmingham City Council on 0121 464 9861 or visit www.
An aerial shot of Tyseley Wharf: The development of the TPAP initiative recognises that Tyseley is a key focus for business and investment
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|Publication:||The Birmingham Post (England)|
|Date:||Feb 16, 2012|
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