Decision Maker: SCR - Business Growth Board
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
Award of £96k grant to Company 28c
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) Made Smarter and Productivity Challenge grant of £96,372 to a company that supplies pure metals and recycles superalloy revert, sorting, testing, processing and certifying for re-use.
The grant would allow the company to automate the testing process of small pieces or components to allow for better recovery of valuable materials and purchase new equipment to increase productivity.
The project estimates that it will create between 3 and 5 new jobs by 2020. This represents a gross cost per job of between £32,124 and £19,274 (average £24,093), considered acceptable value for money for the BIF Made Smarter and 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