The deadline to apply for funding is fast approaching. Find out more about the eligibility criteria and apply today.
Eligibility criteria
The total investible capital remaining is £14 million, with a requirement that overall investment from the fund will leverage an additional 40% from private sector co-investment. However, the proportion of leverage at a deal level can be flexible if the overall fund target is achieved. This proportion of leverage is an ERDF output target and a requirement of the ERDF grant funding.
All developments supported by the Lancashire Urban Development Fund must be occupied by small to medium-sized enterprises (SMEs) from Lancashire’s priority growth.
So far, £6 million of the fund has been allocated to projects across Lancashire, with a remaining £14 million that needs to be committed soon before the monies get returned to the HM Treasury.
Where the fund will prioritise investment
The development of industrial workspace with individual floor space sized up to 10,000 square feet (930 square meters)
The development of larger industrial workspace units above 10,000 square feet (930 square meters)
Viable commercial office developments
The 30 sites identified in the Lancashire Strategic Economic Plan (SEP) will be prioritised over other developments (however, development will not be limited only to these sites)
Stalled and marginal developments in Lancashire
Schemes that will contribute to and accelerate the economic growth of Lancashire
The refurbishment or repurposing of older industrial stock
Who can apply for funding
Lancashire Urban Development Fund will prioritise funding to specific high-growth sectors in Lancashire, including:
Advanced engineering & manufacturing
Aerospace & aviation
Automotive manufacturing
Creative, digital, ICT and new media
Energy and environmental technology
Business, professional and health services
Food & drink
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