CX Project grants raised to £25,000
Written by author on July 30, 2015
GRANTS up to £25,000 can be obtained from the Nuclear Decommissioning Authority through the CX Project scheme.
The Authority has recognised the success and positive impact which the CX Project Grant has made to those businesses that have accessed funding to date. T
aking on board the suggestions made by local businesses, some improvements have been made to offer greater flexibility and provide more opportunities for businesses with the potential to grow. These changes include raising the maximum limit to £25,000 (up to 50% of project costs). Grants are available to Annandale and Eskdale businesses that are able to demonstrate their development plans would increase business turnover and create new jobs.
Since its launch in 2011, the CX Project has helped to boost local business turnover by almost £2 million, creating 41.5 new full time equivalent (FTE) jobs. This is one new FTE job for every £2,725 of grant funding invested.
John Grierson, Site Director for Magnox at Chapelcross saidL “Grants will be available to businesses that have a proven track record of operating a successful business. The main objectives are
• to support business growth
• to unlock the potential to find new markets
• to develop new products or procedures
• innovation
• developing and retaining a skilled workforce
“Flexibility in relation to the objectives is the main element of the improved scheme and this reflects the feedback from businesses in the area with real growth potential. This flexibility includes increasing the grant ceiling to £25,000 where the project looks exciting enough.
It is a competitive, discretionary grant with the decision made by the CX Project Grants Panel. We have made sure that the process is streamlined and businesses will receive support in developing their application, providing it meets the new, wider criteria.”
Colin Smyth, chairman of Dumfries and Galloway Council’s Economy, Environment and Infrastructure Committee, said, “I would encourage any business in the DG10 to DG16 area to share their growth or innovation ideas with us to see if it fulfils the criteria for a grant. The increased flexibility makes the funding attractive to those with larger projects in mind and a CX Project grant may be the final spark that sets the project alight.”
Tony Buckley of Mapleco Motorsport Ltd received a grant from the CX Project in 2014 to develop his specialist wiring loom business. He said, “Without the CX Project, I would have been doing this as odd jobs from home. With their help I put together a good business plan and now work from an industrial unit. In less than 6 months, the CX Project helped me turn what was an idea into a real business.”
James Ewart Racing from Langholm also received a CX Project grant. James and Briony Ewart converted part of the family cattle and sheep farm into a racehorse training business in 2004 and the expansion of the business since that time has been impressive.
Briony said, “When we needed a horse box and mobile stables, the CX Project’s help was really important. The grant provided enabled us to house 4 additional horses which required 2 extra members of staff. We are keenly aware of the value of our business to the local economy and it is very satisfying to be able to take on more staff. ”
