Economy set to receive a £3/4m shot in the arm

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JPSE-26-10-12-021
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Jobs are set to be created and many safeguarded thanks to a ‘East Sussex Invest’ grant from the county council.

The £750,000 cash boost will provide direct help to businesses and communities, claim East Sussex County Council (ESCC).

The money is part of the council’s £6million Economic Intervention Fund which it launched earlier this year.

East Sussex Invest (ESI) is designed primarily to secure companies moving into the county and support job growth at existing companies.

It could also give short-term, interest-free crisis loans to help firms to safeguard jobs, said a ESCC spokesman.

Cllr Matthew Lock, lead member for economy at ESCC, said the county’s economy had had a real boost in the last few weeks with new grants and positive announcements.

He said: “The message is despite the tough economic times we all face it’s definitely not doom and gloom - we’re fighting back.

“These initiatives will create new jobs and protect existing employment, so it’s good news all round.”

ESI is the second grant to come on stream from ESCC’s £6m Economic Intervention Fund, following the launch of ‘RuGEF’ - its rural growth and employment grant which went live earlier this month.

These grants follow the other success stories in East Sussex.

Sea Change Sussex has won a £5.5million government grant for development in Hastings from the Regional Growth Fund and Newhaven has learnt its port will be used to maintain the proposed Rampion off-shore wind farm, subject to E.ON being granted a Development Consent Order.

ESCC has already had applications for its RuGEF grant.

For more information on qualifying for funding or for the ESI grant visit www.eastsussex.gov.uk/businessgrants or email economicintervention.fund@eastsussex.gov.uk