Archibald announces Local Growth Fund awards for Invest NI and Go Succeed
Date published:
Over £13 million for projects that target innovation, business start-up and growth and social enterprise development, has been allocated to Department for the Economy.
The £13.292m is capital funding from the Local Growth Fund. It includes:
- £7.1. m for Invest NI programmes to help businesses with innovation and R&D; and for Invest NI to undertake early-stage design and feasibility work for the Mandeville site in Craigavon.
- £1.7m for Go Succeed towards service delivery and provision of capital grants to help businesses to grow
Work is ongoing on several other projects, which will be announced in due course.
Economy Minister Dr Caoimhe Archibald said:
“While I remain concerned about the structure of the Local Growth Fund, I welcome this allocation. This funding will directly benefit businesses right across the north through funding for both Go Succeed and Invest NI.
“Collectively, these initiatives will stimulate local economic growth, improve productivity, and develop social enterprises. This investment will help support my priorities of improving productivity, improving regional balance and delivering more good jobs.”
Notes to editors:
- Go Succeed is run by local councils and provides funding to support business start-ups.
- For media enquiries relating to the DfE allocation contact the Department for the Economy Press Office
- The Executive Information Service operates an out of hours service for media enquiries only between 1800hrs and 0800hrs Monday to Friday and at weekends and public holidays. The duty press officer can be contacted on 028 9037 8110.
- To keep up to date with news from the Department for the Economy, follow us on X, Facebook, Instagram and LinkedIn