8 BIF Approvals - Company 37c
Minutes:
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 £74,455 to a company that operates in the traditional manufacturing sector.
The grant would allow the company to install a semi-automatic arm robot cell which would allow increased production volumes and install sensors and updated systems to allow rapid responses to production or downtime issues.
The company estimates it will create 8 FTE’s by 2021. In total this represents a gross cost per job of £9,307, considered acceptable value for money for the BIF Made Smarter and Productivity Challenge investment.