County Durham Growth Fund grants help create 278 new jobs

The County Durham Growth Fund has awarded £ 1.98million in grants this year to 17 businesses across the county, which will create 278 new jobs.

2021 has been a successful year in terms of demand for the £ 8.9million Capital Grants program, which provides financial support to small and medium-sized enterprises (SMEs) in County Durham to help them accelerate their growth .

Read more: Millions of pounds and hundreds of jobs as Northeast Fund marks busiest year

The fund is managed by Business Durham, Durham County Council’s business support service in partnership with UMi.

In addition to the £ 1.98million grants to SMEs and businesses, the County Durham Growth Fund has leveraged an additional £ 3.1million in private sector investment in 2021.

Each of the 17 supported companies obtained a large investment grant to help them buy new machinery and equipment, increase their capacities, develop new products or move into larger premises.

When completed, the projects will create 278 new jobs between them. This brings the total number of new jobs created by the County Durham Growth Fund to over 700.

Councilor James Rowlandson, Cabinet Member for Resources, Investments and Assets at Durham County Council, said: “As the year draws to a close, it is an important time to look back and reflect on this. that has been achieved and 2021 has been a fantastic year for the growth of County Durham. Fund, despite the difficult trading conditions created by the pandemic.

“This year, we have helped 17 local businesses with their growth plans, which are expected to create 278 new jobs for the county.

“These businesses are great examples of innovative and ambitious small and medium-sized businesses located in our region and we at Durham County Council are very proud to have been able to support them as they grow and prosper. It is by investing in ambitious companies like these that we can ensure healthy economic growth and many job creation for County Durham, now and in the future.

Capital Grant funding supports both established businesses and new businesses looking to expand or establish new operations in County Durham.

EB Granite, based in Peterlee, received a grant to invest in new machinery to improve efficiency and increase capacity.

Mark Ellis, co-founder of the company, said: “The company has grown every year since its inception and the demand for our services has continued to increase.

“We knew it was possible to bring in a lot more work, but the machines we had were outdated, a decade old, and just not working as quickly and efficiently as we needed.

“We know we have an excellent reputation within the industry and that people travel from all over the region for our products and services.

“The demand is there and with the investment we have made in the new machines, with the funding we have received from the Durham County Council program, we know that we are now ideally placed to secure larger contracts that often require a faster turnaround time. ”

The 17 companies benefiting from a grant in 2021 are:

l Maintenance, grounds maintenance, cleaning and distribution company based in Bowburn, AAA UK;

l the engineering company Ashgarth Engineering in Consett;

l ATT Fabrications Limited, in Spennymoor;

l Aztec Diamond Limited, a specialist in equestrian equipment and clothing based in Consett;

l Conduit Construction Network Limited, which manufactures high quality door sets, screens and hardware that relocate to Belmont;

l Builder of innovative modular homes, CoreHaus Ltd which moved to Murton;

l Peterlee-based manufacturer of kitchen surfaces, fireplaces and vanity tops, EB Granite;

l the Chester-le-Street company EV Smart, which designs and installs electric vehicle charging stations for professional customers;

l Finnish sauna specialists, Finnmark Saunas in Spennymoor;

l Workwear, PPE and Safety Products company Industrial Workwear based in Consett;

l Manufacturer of folding doors based in Seaham, North East Bi-Folds Limited;

the innovative and disruptive solar power generation technology company, Power Roll Limited, which moved to Murton;

l Pragmatic Printing Limited, which manufactures innovative integrated circuits at its Sedgefield plant;

l Seaham-based commercial catering equipment supplier, RG Distributors T / A ECatering;

l Pioneer in proximity radiography, SafeRad in Brancepeth;

l O. Mounter & Sons, based in Willington, which manufactures wooden ties, logs and pallets;

l Engineering firm Teescraft Engineering Ltd, which produces precision components for energy-related applications at its Bishop Auckland plant.

The fund is provided by Business Durham in partnership with UMi, which has a dedicated team of advisers ready to help with initial eligibility checks and search for applicants. All successful grant applications are reviewed by UNW LLP, an independent firm of accountants and business consultants. Funding was secured from England’s European Regional Development Fund as part of the 2014-2020 European Structural and Investment Fund Growth Program.

To verify eligibility and get assistance with the application process, contact UMi on 0191-716-1006 or 07443-231757, or visit www.countydurhamgrowthfund.co.uk

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