Newsletters

Back to Northern Powerhouse Investment Fund News – Issue 2

LEP Perspective: Humber

Phil Glover, Growth Hub Programme Manager with the Humber Local Enterprise Partnership talks about  why there has never  been a better time to invest in the Humber

Never has the time been better to invest in the Humber. That’s the message being communicated to inward investors and local companies as the area rides on the back of significant investments made to benefit its key sectors.

The Humber is in the midst of an economic resurgence, with the estuary very much a key asset in driving that growth. Key sectors in energy and offshore wind have resulted in the region being recognised at the forefront of worldwide wind energy development, an enviable position worthy of the UK’s ‘Energy Estuary’ tagline.

With the estuary at the heart of our region’s growing reputation, major businesses and partners in key sectors have continued to invest in the Humber, resulting in more jobs and greater opportunities for start-ups and SMEs to invest in the area.

Hull’s year as the UK’s City of Culture has also played a key role in attracting investment in our region, with major developments adding to the city’s pull for new business. Hull is just one example of the support and ambition being given to the local economy as the area scoops the top prize in the Enterprising Britain Awards.

The partnership with the Northern Powerhouse Investment Fund is vital in unleashing local investment, productivity and job creation for the area. The fund managers have a wealth of knowledge and experience and are able to work with our local companies to provide the right finance and equity solutions to meet their growth plans.

The Northern Powerhouse Investment Fund has got off to a great start in the Humber with almost a £1m of lending and investment since its launch at the beginning of the year. NPIF can make a real difference to a company’s future as it can provide the funds, often alongside traditional lenders, to bring forward projects and expansions.

The types of businesses and organisations coming forward for investment cover a variety of sectors and stages of growth. The funding has not only supported cutting-edge tech companies such as Ash TV and Electric String, but also engineering, manufacturing and service sector firms with further investments in the pipeline.

Working alongside our Humber Growth Hub and the Growth Hub advisors, the NPIF fund managers have been able to establish relationships with businesses in the Humber who need financial support to facilitate growth projects and expansions.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Phil Glover, Growth Hub Programme Manager, Humber Local Enterprise Partnership

Editors Notes