The chance for a share of £6.2m funding

The money comes from the Growing Places Fund, established by the Government to make capital investments in economic growth. The fund is being administered locally by the York North Yorkshire and East Riding Enterprise Partnership, which is asking for initial proposals by January 20, 2012.

It is the first LEP in the UK to announce plans for investing the fund. In this initial investment round, priority will be given to activity that is ready to implement.

Chairman Barry Dodd said “We’ve not set ourselves up solely to administer Government funds, but when they offer resources and decision making, we are the right people to make the most of it for our business community.”

The funding can invest in any type of activity as long as it will create jobs and stimulate economic growth. However, the investments must be classed as capital spending, such as the improvement of fixed assets including equipment, infrastructure or buildings. Investments should also generate a return that can be re-invested in other activity in the future.

Initial proposals will be considered by the LEP board on January 27. Those shortlisted will be invited to work up full business plans, with the intention of projects being implemented from April 2012.

For more information, visit www.ynylep.co.uk