Generally new investment in fixed assets that creates or safeguards jobs is eligible. Expenditure can be for expanding, modernising or restructuring an existing business or for establishing a new business. To qualify, a project must normally have a good core spend on plant and machinery. Certain essential non-recurring costs, e.g. associated fees, patents, removal costs and training Fixed assets can be either new or second hand, acquired outright or bought by HP, lease, lease finance or extended credit. Routine replacement of capital equipment is not eligible.
Grant is discretionary.
The project must create or safeguard jobs in the applicant business. The better the quality of jobs and the more an applicant is prepared to invest in its employees, the greater the value we would place on the project. Projects that would create overcapacity and just displace jobs elsewhere in the UK do not qualify for grant. There are a number of reasons that grant may be sought. The project should contribute positively towards local and national economic performance.