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Barnsley has one of the best financial assistance packages in the UK with the highest rates of Government grant aid. Companies locating, expanding or safeguarding jobs in Barnsley may be able to benefit from the following various sources of financial assistance.
Regional Selective Assistance Grant
Barnsley has full Development Area Status with certain industry sectors and projects eligible for RSA grant.
RSA grants are based on the eligible fixed capital costs of a project and the number of jobs expected to be created or safeguarded. The grant is discretionary and not at a fixed rate and the amount is calculated on the basis of the minimum needed for a project to go ahead.
All manufacturing industries (except those subject to special European Union restrictions) and some service sector projects are eligible. Certain criteria must be fulfilled before assistance can be offered.
Enterprise Zone (EZ) Benefits
Fields End in Barnsley is classified as an Enterprise Zone sites with 10.8 hectares of land remaining for development. The main benefits of EZ for companies are:
Exemption from National Non Domestic Business rates (Property Tax) until November 2005
100% Capital Allowances, on eligible expenditure, for Tax Purposes
Outline Planing Permission already in place for business, general, industrial and distribution purposes
BDA Investor Development Programme
A £1.2 million programme is on-going to provide funding for specialised training packages for companies.
Grants and/or support for specialist consultancy work are also available.
Objective One
One of three programmes set up by the European Union to provide investment funds to improve social and economic conditions in targeted areas. South Yorkshire has been granted Objective 1 status that provides access to approx. £700 million to facilitate economic development, social regeneration, business support and labour initiatives.
Business Link South Yorkshire
Business Link South Yorkshire offers a range of services to local companies to help improve their competitive edge. Experienced and wholly impartial business advisors will help to identify, specify and prioritise individual company needs.
Please contact BDA officers on 01226 784444 for further information on how your company may benefit from the financial assistance packages available.
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