Suffolk Inclusive Growth Investment Fund

About the fund

The Suffolk Inclusive Growth Investment Fund (SIGIF) is a £1.65m fund allocated by Suffolk Public Sector Leaders (SPSL) and New Anglia Local Enterprise Partnership (NALEP) to support 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-2 Announcements confirmed (24/03/2021)

The impact of Covid 19 has been significant on Suffolk’s businesses and our local economy and as we re-open, we must all - residents, the public sector, and businesses - do our part to control the virus and prevent the spread. 

As part of their response to the Covid 19 pandemic Suffolk’s Public Sector Leaders established the Suffolk Inclusive Growth Investment Fund (SIGIF), totalling £1.65m with contributions from Suffolk’s pooled business rates and New Anglia LEP. 


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 NALEP. 

Suffolk Growth are pleased to confirm a total of £367,292 has been awarded to three projects in Round 2 of the programme. 

Cllr Nick Gowrley, Chair of Suffolk’s joint Growth Portfolio Holders Group and Suffolk County Council Portfolio Holder for economic development, housing and enterprise, said:

“I am pleased to announce a further investment of just over £367,000 to support Suffolk’s economic recovery from Covid 19 through round-2 of the Suffolk Inclusive Growth Investment Fund. This brings the total to over £717,000 allocated between December 2020 and March 2021.

Throughout 2021 SIGIF investment will boost local economic resilience and through our partnership approach we are working with local areas to respond to what has been an extremely challenging year.”

The three successful projects from Round 2 are:

  • 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) is a £1.65m fund allocated by Suffolk Public Sector Leaders (SPSL) and New Anglia Local Enterprise Partnership (NALEP) to support 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.  There will be a rolling call for projects with decisions made quarterly (Dec / Mar / June / Sept) – the aim is to have all funding committed by 30th September 2021. A decision on continuing the fund will be made in June 2021.

  • Twitter

© 2020 by Suffolk Growth Partnership Board.