THE second round of the £2mWorcestershire Growth Fund has opened. It aims to help local expanding businesses create more jobs and boost productivity.

The fund, which was announced at the #WLEP15 Annual Conference last November, is a capital grant scheme financed by the Worcestershire Growth Deal to support the growth of Worcestershire businesses. Grants of up to £100,000 are available, although higher levels of support may be considered in exceptional circumstances and successful applications must: generate new, sustainable jobs based in Worcestershire, provide match funding of at least 50 per cent, comply with State Aid regulations and increase business productivity.

This is a two stage process with expressions of interest for the second round open until May 13 and successful applicants will be invited to submit a full business case. The fund will run until March 2018, subject to availability and while funds last.

Gary Woodman, executive director of the Worcestershire Local Enterprise Partnership, said: "Worcestershire Growth Fund will continue to have a positive impact for many expanding businesses in Worcestershire, boosting productivity and creating jobs within the county. We have seen some excellent applications in the first round, which are currently being assessed, and I am confident that the second round of Worcestershire Growth Fund will enable even more businesses to grow and improve productivity.”

Cllr Dr Ken Pollock, cabinet member with responsibility for economy, skills and infrastructure at Worcestershire County Council, added: “I would encourage any businesses interested in the Worcestershire Growth Fund to enquire as soon as possible. Success stories from the past year demonstrate just how valuable the Worcestershire Growth Fund can be in providing access to considerable funding. The consequent business expansion and creation of jobs is a real boost to Worcestershire's economy."

The new Worcestershire Growth Fund follows the success of previous programmes such as the Worcestershire Expansion Programme which supported 22 businesses with grant funding of £2,269,693 levering £13,747,345 from the private sector and creating 225 jobs while safeguarding a further 99 positions. For further information on the Worcestershire Growth Fund, including dates for future rounds and how local businesses can apply, visit the Worcestershire.Business.Central. website at www.business-central.co.uk/worcestershiregrowthfund