Suffolk Inclusive Growth Investment Fund

About the fund

The Suffolk Inclusive Growth Investment Fund (SIGIF) was established by Suffolk Growth following allocations from Suffolk Public Sector Leaders (SPSL) and New Anglia Local Enterprise Partnership (NALEP).  The Fund supports local, place-based economic recovery from Covid 19 across Suffolk.

 

The Fund will support projects that respond to the significant impact of COVID 19 on Suffolk’s businesses, employees, and our local economy.

 

For further information about this fund and to view the guidance & application pack please contact funding@suffolkgrowth.co.uk.

 

Please note that all submitted applications to SIGIF must be sponsored by a Suffolk local authority and / or New Anglia LEP.

SIGIF Round 4 Announcements confirmed (30/09/2021)

Funded by Suffolk’s Public Sector Leaders as part of the Suffolk’s Covid-19 Recovery Plan, SIGIF is now supporting 15 projects across the county, with additional contributions secured from New Anglia Local Enterprise Partnership. The fund’s investment to date of £1.3 million is supporting projects with a total investment value of £4.2 million. 

Initially established for one year, the Suffolk Inclusive Growth Investment Fund (SIGIF), totalling £1.65m with contributions from Suffolk’s pooled business rates and New Anglia LEP has received a further boost of £750,000 from Suffolk’s Public Sector Leaders to support projects in 2022.   

 

The fund is open to projects which address the significant impact of Covid-19 on Suffolk’s businesses, employees, and our local economy.  Projects must be sponsored by either a Suffolk local authority and / or the New Anglia LEP.  

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Suffolk Growth are pleased to confirm a total of £310,000 has been awarded to three projects in Round 4 of the programme. 

Cllr Suzie Morley, Chair of Suffolk Public Sector Leaders, said: “SIGIF is making a big difference as part of our recovery, boosting economic resilience, and adding more value through unlocking investment, partnership building and shared learning. Suffolk Public Sector Leaders are investing in programmes to support innovation, support skills and workforce development, and of course responding creatively to the challenges faced across our High Streets. 

 

“The support for a further three excellent projects is very welcome, as is the confirmation of the SIGIF fund extending through 2022.” 

The successful projects from Round 4 are (announced 30/9/21): 
 

  • The refurbishment of a redundant bank in Felixstowe to provide collaborative business space and support and a comprehensive programme of services for local businesses, their employees, and those looking for work. 

  • Funding to support a major regeneration of the Museum of East Anglian Life and see it transition into a truly national asset as the Food Museum. Funding will support facilities for the development of year-round events, new visitor experiences, and substantially improved facilities meeting the needs of current and future visitors.   

  • An extension to Government’s Welcome Back fund awarded to East Suffolk Council for its East Suffolk Town Celebrations which will be used to deliver a series of targeted events to support the economic recovery of town centres and high streets within East Suffolk. 

The successful projects from Round 3 are (announced 12/7/21): 
 

  • A community partnership-led regeneration of land and community church hall close to Leiston town centre and high street, along with a cultural and leisure activities programme for visitors and residents. The land will be transformed into a community garden and recreation amenity that will provide an attractive open thoroughfare between the High Street, retail, and the town’s principal car park. 

  • The development of a coordinated package of digital business recovery support for over 100 town centre businesses in Ipswich, including support for business digital strategy, marketing and diagnostics and coaching services.  

  • Investment in the extension of Castan Wood facilities at Martlesham operated by the Greenlight Trust, enabling capacity for services supporting adults, children and young people who are facing disadvantages and challenges in their lives, to access personal, social, academic, training and employment programmes. 

  • The creation of an Innovation Lab in Woodbridge, supporting co-working, innovation and business space support for micro and small business entrepreneurs, with further pop up and outreach labs network delivering innovation and technology guidance and support services across East Suffolk. 

The three successful projects from Round 2 are (announced 24/3/21):

  • Town centre projects in Eye, Sudbury, Hadleigh and Stowmarket (Babergh and Mid Suffolk Districts) to generate new business opportunities and footfall, within a supportive business environment. Including: innovation space for start-up businesses, development of pop-up innovation hubs and short-term market stalls. 

  • Support for a multi-media community hub, South Street Studios in Ipswich, which houses 8 local businesses and delivers a range of activities focused on supporting new entrants into the sector, job creation and events & wider arts programme.

  • Creation of flexible, active retail “pods” in Bury St Edmunds, Brandon, Newmarket, Mildenhall and Haverhill, (West Suffolk District) focused on delivering retail business start-ups which will generate additional footfall, spend, and increase dwell time in town centres.
     

The five successful projects from Round 1 are (announced 18/12/2020):

  • Roll out of digital high streets initiative in Babergh and Mid Suffolk District Councils.

  • Additional support for businesses taking on an apprentice in 2021 to fund equipment needs.

  • Improved coordination of work across Suffolk’s network of innovation hubs and greater integration of programmes of support for businesses.

  • Investment in our creative digital sector providing space for business growth and support for business start-ups.

  • Enhancement of the work being taken forward by the Cambridge Norwich Tech Corridor to deliver greater benefit for Suffolk businesses and link up with work at Adastral Park.

About Suffolk Growth:
Funded by Suffolk Public Sector Leaders (SPSL) Suffolk Growth is a partnership organisation that brings together local authority teams to develop and deliver our shared inclusive growth agenda.  The partnership works closely with New Anglia Local Enterprise Partnership (NALEP), Suffolk Chamber of Commerce (SCoC), the University of Suffolk, Suffolk Constabulary, and wider public sector teams, including communities and health.

 

About SIGIF:

The Suffolk Inclusive Growth Investment Fund (SIGIF) has been established by Suffolk Growth following allocations from Suffolk Public Sector Leaders (SPSL) and New Anglia Local Enterprise Partnership (NALEP).  The Fund supports local, place-based economic recovery from Covid 19 across Suffolk.  Year one has operated over four rounds with a rolling call for projects.  Decisions in year one have been made  quarterly (Dec / Mar / June / Sept).  Year two funding has recently been secured and updated application guidance and dates for submission will follow.