The cash is part of the Council's £6 million Economic Intervention Fund launched earlier this year. The Fund will provide direct help to businesses and communities.
East Sussex Invest (ESI) is designed primarily to secure companies moving into the county, support job growth at existing companies and may also give short-term, interest-free crisis loans to help firms to safeguard jobs.
Councillor Matthew Lock, Lead Member for Economy, says the East Sussex economy has had a real boost in the last few weeks with new grants and positive announcements.
“The message is despite the tough economic times we all face it's definitely not doom and gloom – we're fighting back!” said Councillor Lock.
“ESI is the second grant to come on stream from our £6 million Economic Intervention Fund, following the launch of ‘RuGEF' – our rural growth and employment grant which went live earlier this month.
“These grants are excellent news and follow the other success stories we've had in East Sussex. Sea Change Sussex has won a £5.5 million government grant for development in Hastings from the Regional Growth Fund and Newhaven learnt that its port will be used to maintain the proposed Rampion off-shore wind farm, subject to E.ON being granted a Development Consent Order. These initiatives will create new jobs and protect existing employment, so it's good news all round.
“We've already had applications for our RuGEF grant and if you think you qualify for that funding or for the ESI grant, visit our Business grants and loans section or email: economicintervention.fund@eastsussex.gov.uk for more information. You'll also be able to check out when other grants are due to come on stream”.
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