Issue - items at meetings - BIF Approvals - Company 12

Issue - meetings

BIF Approvals - Company 12

Meeting: 23/10/2019 - SCR - Business Growth Board (Item 8)

8 BIF Approvals - Company 12

Minutes:

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 45,479 to a c company that manufactures environmental products to be used in the construction / spill industry.

 

The grant would allow the company to purchase of a new textile laminator machine to allow production of bespoke sizes of the product to meet different market requirements.

 

The project is estimated to result in a 30% increase in productivity, with GVA per worker forecast to increase from £112,500 to £145,833, and creation of 2 FTE’s by 2020, considered acceptable value for money for the BIF Productivity Challenge investment.