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One NorthEast today unveiled a £10m package to support companies during the economic slowdown, as Government Ministers arrived in the region to meet with local business leaders and launch a regional response to current economic challenges.
The new funding will be made available to bolster firms’ growth plans, create and protect jobs, cut energy bills and extend a scheme to help companies experiencing tax and credit difficulties.
The new assistance, unveiled by One NorthEast, will comprise investment of:
An extra £2.5m into the Selective Finance for Investment grant - helping small and medium-sized firms expand, create new jobs and safeguard existing posts
An additional £6.25m into the North East Investment and Co-Investment Funds to give vital access to finance for growing firms
A further £250,000 to extend the Company Rescue Pathfinder programme to help firms struggling with tax and credit issues
An extra £1m into the innovative Energy Resource Efficiency scheme to help firms cut rising fuel bills.
Mr Clarke said: “Supporting regional businesses at this time of great economic challenge is of the utmost importance to One NorthEast.
Companies looking to access support should contact One NorthEast on Tel: 0191 229 6200 or go to the website www.onenortheast.co.uk
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