Funding

The Leeds City Region Enterprise Partnership’s (LEP) Capital Grants Programme provides grant funding to businesses based in Leeds City Region or planning to invest here. Grants from £10,000 to £250,000 are available to create new jobs and business growth.

The Capital Grant Programme can contribute towards:

• Capital investment in land, buildings, plant, machinery and equipment.
• Research and development activity (except applied research) where this will support business and jobs growth.

To receive funding projects must:

• Create new permanent jobs in Leeds City Region.
• Have private finance available to invest alongside Business Growth Program funding. For every £1 of Business Growth Programme funding sought at least £4 of private sector investment is needed.
• Be within Leeds City Region key growth sectors (health and life sciences, digital & creative, low carbon & environmental, advanced manufacturing, financial & business service).

Further information on funding and support

If you’re a digital business looking to set up a new operation in Leeds City Region, then grant funding may be available.

The funding can contribute towards the costs related to the investment including:

• IT consultancy costs for the layout of system and cabling
• Office fit out
• Equipment
• Alterations to premises
• Architects / design / consultancy fees

Your business could be eligible for a grant contribution of between £10,000 - £50,000 if you meet the following criteria:

• currently has no presence in Leeds City Region
  intends to establish new operations in Leeds City Region
• is a creative, digital or technology business
  has eligible capital costs associated with this investment
• is creating five or more full time, permanent jobs in the City Region
• has a trading history of a minimum of 12 months
  has an eligible capital project with a value over £10,000

To discuss with our team contact invest@the-LEP.com or phone 0113 38 1850.

The £20m Revolving Investment Fund (RIF) has been established to address market failures in the provision of commercial loan finance.

Its aim is to catalyse investment, accelerate economic growth and drive job creation in the Leeds City Region. In particular, the RIF creates an avenue for developers and business to work together with the public sector to drive investment in commercially viable projects, where conventional sources of finance are insufficient and/or unavailable.

The RIF makes investments (minimum of £1m) on commercial terms and compliant with State Aid restrictions, to meet the gaps where private finance cannot be obtained. It does not provide grant funding.

Contact us on 0113 3785930 or email Investmentfund@leeds.gov.uk to discuss your requirements.

Bradford’s City Centre Growth Zone is a unique initiative that supports business growth through business rate rebates and capital grants (State Aid rules apply. Total maximum grant 200,000 Euros). The zone covers 170 ha of prime commercial space in Bradford city centre.

The Growth Zone offer is made up of the following elements:

• Business rate rebates: rate rebate incentives for eligible business creating new jobs through expansion or relocation, worth up to £16,000 per annum per post created.
• Additional rebates or financial support may be available where redundant or disused space is brought back into permanent commercial use and jobs are being created.
• Premises improvement grant: up to 50% of the total costs of bringing floor space with an identified end user back into commercial use or making improvements to commercial space. Available until March 2015.
• Machinery and equipment grant: up to 50% of the cost of specific fixed assets such as plant and machinery required to enable growth. Available until March 2015.
• Free city centre Wi-Fi and 4G rollout.
• Property search and relocation support.

More information on this and all funding opportunities in Bradford can be found here. 

The Leeds City Region Enterprise Zones incorporate 10 sites and over 229 hectares of development land. Companies locating in one of the enterprise zones benefit from:

• Reduced business rates worth up to £275,000 over a five year period
• Simplified planning
• Assisted Area status from 1st July 2014, offering the potential for enhanced capital allowances (only available on certain sites)

For more information please get in touch.

Assisted Areas are specific parts of the country in which both SMEs and larger companies can access greater levels of public support, including additional grants, enhanced capital allowance or business rates relief.

The Leeds City Region recently benefited from a 90% increase in its Assisted Areas coverage, with a total of 43 wards now having Assisted Areas status. This includes parts of Kirklees, Calderdale, Leeds, Bradford, Wakefield, Barnsley, and key development sites such as the Leeds City Region Enterprise Zone, Bradford Growth Zone and Leeds city centre and South Bank sites. Contact individual councils for further details.

Assisted Areas within the Leeds City Region boundary

Leeds City Council is awarding inward investment relief to businesses in target growth sectors (Healthcare, Creative & Digital, Professional & Business Services, Low Carbon Manufacturing, Construction and Social Enterprise/ Third Sector) who are seeking to relocate or invest in new operations which would have a significant impact on employment in Leeds.

• Relief is offered at 1% of rates payable for every new job created up to a maximum of 50% of the
• Rates payable in the first year of relocation/inward investment
• Relief is available either in the first year or spread over the first three years of investment
• Relief from rates is considered a form of State Aid and any award above the maximum value of 200,000 Euros over 3 years would be subject to European Commission approval.

For further details on all funding opportunities please get in touch to discuss your specific business requirements and available funding.