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 £100,000 to a company that manufactures self-adhesive labels, mainly sold via brokers, and is developing a new technology to manufacture short run pouches and sachets.

The grant would allow the company to construct an extension to the existing factory to house digital print and finishing machinery.

The project has been estimated to result in a 36% increase in productivity, with GVA per worker forecast to increase from £36,686 to £50,061, and creation of 4 FTE’s by 2020, considered acceptable value for money for the BIF Productivity Challenge investment.