Scores of new jobs will be created after £224,000 in growth grants were awarded to seven companies.
Forty-eight positions will be created after the first round of business growth grants were handed out by Coast to Capital Local Enterprise Partnership (LEP), funded by the Government’s regional growth fund.
The grants programme is a £4.79million fund run by the LEP, Brighton and Hove City Council and partners to provide non-repayable grants to small and medium sized businesses (SMEs) with expansion plans.
The seven companies to receive the funding are Micro ID in Burgess Hill, MSP in Brighton, Insulated Tools Ltd in East Grinstead, GB Electronics in Goring, Firefly Solar in Lewes, Young Calibration based in Shoreham and BCMY based in Lancing.
Micro ID makes microchips for animals and will use the grant to design a new product, MSP specialises in data insight and will use the money to expand, Insulated Tools will invest in new machinery and electronics design company GB Electronics plans new product development.
Green energy firm Firefly Solar will invest in product trials, Young Calibration will expand its calibration laboratory and recycling firm BCMYwill create a newfacility to dispose of cartridge waste.
Ron Crank, Coast to Capital chief executive, said SMEs were the backbone of the economy, adding: “We are delighted to award the first of what I hope will be many business growth grants to companies in our region.
“Each of these businesses has demonstrated innovative new plans for growth involving research and development, capital projects and expansion into further markets.”
Ana Christie, new chief executive of Sussex Enterprise, said: “As the accredited Chamber of Commerce for Sussex, we will always support businesses in their growth aspirations and welcome this step forward from the Local Enterprise Partnership.
“The creation of new jobs through business grants is brilliant for the economy and Sussex.”
Grants of £5,000 to £100,000 are available for research and development, innovation, product and service development, breaking into new markets, skills development, plant and equipment, business premises and other capital items.
Applicants must demonstrate how plans will lead to job creation.
For details email rgf@coast2capital.
org.uk or visit www.coast2capital.
org.uk/helping-business-growth/ regional-growth-fund.
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