Restrictions may also apply where projects are in sectors of the UK market which are already fully served and where support would simply displace or reduce existing jobs in similar businesses elsewhere. In such circumstances, an application would be unlikely to succeed. If you are in doubt about your company's eligibility, please contact the Economic Development Unit for further information. Grants are individually assessed against the criteria. The amount depends on the needs of the project, the number of jobs created or safeguarded and the impact the project will have on the economy.
Grants can be significant.
For exceptional quality projects, higher grants may be considered. The grant is taxable and is usually paid in three or more annual instalments. Payments are triggered by the achievement of staged capital investement and employment targets agreed at the outset. The project must demonstrate convincingly that without grant the project would not go ahead as planned. This may be to reduce the risks associated with the project, or to influence the choice of a mobile project's location.