Businesses invited to bid for funds for capital projects
Businesses across Sheffield City Region have been invited to bid for funds in order to enable new transport and infrastructure projects to get off the ground.
An open call has gone out for bids to fund projects that can fully commit the SCR resources within the next 18 months.
Funding for these schemes will come from the £650m Sheffield City Region Infrastructure Fund (SCRIF). This fund includes Local Growth Fund resources, which is part of the Government’s continued investment in the Northern Powerhouse.
Nigel Brewster, Vice Chairman of the Sheffield City Region Local Enterprise Partnership (LEP), said:-
“As our major capital investment fund, SCRIF invests in schemes across the whole city region and enables the city region to effectively leverage private and public sector investment, as we build a truly competitive centre of business excellence.
“The current SCRIF programme is made up of 30 major schemes, spread across the varied geography of the city region, including projects as varied as the Great Yorkshire Way, the new iPort facility and the innovative Grey to Green public realm project in Sheffield city centre.
“I hope that partners across the region will take advantage of this opportunity and put their bids forward before the closing date early next month.”
The aim of this call for bids is to build a reserve pipeline of exciting capital projects which can be funded as and when budgets allow, and also to ensure that the City Region is ready to respond effectively to national funding calls as they become available, thereby increasing chances of success.
Furthermore, the scheme will provide development partners with a route for their proposals to be assessed and developed without having to delay until formal budgets are announced, as well as ensuring funding allocations already secured by the city region are fully utilised.
