Decision Maker: SCR - Business Growth Board
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
Award of £29k grant to Company 08
subject to the conditions set out in the Appraisal Panel Summary
A report was received to enable the Board to take a decision whether to support the proposal of a Business Investment Fund (BIF) Productivity Challenge grant of £29,136 to a technical distribution company for a wide range of sensors and instrumentation.
The grant would allow the company to create a vibration test facility for the calibration of accelerometers and transducers, providing the ability to test and calibrate sensors directly in the UK in-house.
The project is estimated to result in a 42% increase in productivity, with GVA per worker forecast to increase from £50,335 to £71,429, and creation of 1 FTE by 2020, considered acceptable value for money for the BIF Productivity Challenge investment.
Report author: Sue Sykes
Publication date: 06/11/2019
Date of decision: 23/10/2019
Decided at meeting: 23/10/2019 - SCR - Business Growth Board