Assisted Area Status
The new Assisted Area Status Map has been formally approved by the European Commission. Assisted areas are those areas where regional aid can be offered to businesses, under European Commission state aid rules and are selected based on a combination of Commission guidelines, the potential to benefit from regional aid, and an assessment of economic need.
It makes local businesses eligible to bid for higher levels of funding and support that can help them to create jobs, invest in new premises or machinery, develop and grow. Typically, this is dispersed via Regional Growth Funding to support incentives that are using private sector investment to create economic growth and jobs.
Further information on these funding opportunities are given below:
• Regional Growth Fund – operates in England and supports projects and programmes that are using private sector investment to create economic growth and sustainable employment
• Advanced Manufacturing Supply Chain Initiative (AMSCI)- A competition for funding to improve the global competitiveness of advanced manufacturing supply chains. It will provide a flexible package of support (grants and loans) for research and development, skills training and capital investment with the aim of helping existing supply chains grow and achieve world class standards while encouraging major new suppliers to set up and manufacture in the UK.
• For SMEs in Assisted Areas there is scope to fund up to 50% of eligible project costs, as opposed to 30% in other areas.
Assisted Areas status can also offer certain tax allowances:
• Business Premises Renovation Allowance (BPRA) is predicated on Assisted Area status. It gives an incentive to bring derelict or unused properties back into use, by giving an initial allowance of 100% for expenditure on converting or renovating unused business premises in a disadvantaged area.
However Assisted Area status does not guarantee regional aid funding. Businesses in other parts of the country can still receive support, including RGF and AMSCI, for a wide range of projects.
2014-2020 Assisted Area Map
The Assisted Area Map has been approved by the EU Commission.
Torridge District Council:
Hartland and Bradworthy
Monkleigh and Littleham
North Devon Council:
Bickington and Roundswell
Forches and Whiddon Valley
Georgeham and Mortehoe