Torbay Business Growth Fund
A £1m Growth Fund has been approved by Torbay Council to help create jobs and boost business growth.
The Torbay Growth Fund, which is the first of its kind in the Heart of the South West Local Enterprise Partnership area, will offer grants or loans over a period of three years and will be subject to an agreed number of jobs being created in Torbay by the business.
The level of funding will between £1,000 and £4,000 and the scoring criteria will favour businesses looking to locate to development sites and Whiterock, Edginswell and Claylands as well as those in priority sectors such as hi-tech industries and those creating higher skilled, well paid jobs.
The event will be open to applications from April 2013, coinciding with an Invest in Torbay event being held at Westminster on 25 March 2013 to attract new investors to the area.
Details of how to apply for the fund is to be published in April 2013.
