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.

 

Year 2 applications are now open - please note that all submitted applications to SIGIF must be submitted by a Suffolk local authority and / or New Anglia LEP.

28 April 2022 - Latest Suffolk Inclusive Growth Investment Fund awards announced!

Suffolk’s Public Sector Leaders support for local economic recovery has seen a further three new projects approved for Suffolk Inclusive Growth Investment Funds (SIGIF).

In this round, SIGIF will invest a total of £323,000 to deliver projects including the development of the Southwold Enterprise Hub, the return of the Women’s Tour cycle race to the county in 2022, and an Active Skills programme to support the recovery and growth of the sport and leisure sector across Suffolk.

Karen Chapman, from Suffolk Growth said: “The latest round of awards demonstrates how SIGIF is supporting our immediate and longer-term economic recovery. Maximising the benefits and profile that major events can bring to the county such as the Women’s Tour is an important step now in supporting the local economy, while investing in sector skills will have a long-term benefit to our communities, the health sector and our workforce.”

Susannah Challis, Workforce Development Officer at Active Suffolk said: “Active Suffolk are delighted to have been awarded SIGIF funding to support the Active Skills project. The project will involve working with a wide range of partner organisations in the sector to provide a skilled, competent, and fit for purpose Physical Activity Sector workforce which will underpin the sector’s recovery from the impact of the pandemic, building long-term sustainability into the sector. This will also ensure that Suffolk’s workforce is healthier both physically and mentally contributing towards improving economic performance and productivity.”

The latest round of SIGIF investments, managed through Suffolk Growth, takes the number of active projects supported since January 2021 to 19 with an overall investment of nearly £2 million unlocking project development value in Suffolk of £7.4 million.

 
 
SIGIF Year 2, round 1 - First award announced (02/03/2022)
 

Suffolk Growth Partnership have confirmed the latest award from the Suffolk Inclusive Growth Investment Fund (SIGIF) to further boost economic recovery in the county.

The Ipswich Live project, led by Ipswich Borough Council, in partnership with Out Loud Music, will receive £300,000 to support the upgrade and modernisation of the vacant St Stephen’s Church in the heart of the town, creating a new live music mixed performance venue for Ipswich and Suffolk.

As well as a fit-for-purpose, 225 capacity modern performance venue, the Church will accommodate a new daytime culture-led café and co-working spaces to support creators and artists. 

A spokesperson for Suffolk Growth said: “This is another excellent project that Suffolk Public Sector Leaders have supported with this fund. These innovative projects are making a significant contribution to our economic recovery, with more to be announced across the county later in 2022.

“There has already been great success with the SIGIF funded South Street studio development in Ipswich and the Sound City festival. Importantly, the Ipswich Live project is integrated with the Town Deal programme adding further value and will be a key driver of the vibrant music and cultural scene in the town centre.

“We are pleased to be backing a sector that has been hit hard throughout the pandemic to bounce back, respond creatively to the town centre challenges and boost the day and night-time economy, as well as the wider visitor economy.”

 
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.  

Suffolk Growth SIGIF.png
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.