What is ERDF?
ERDF is a component of the European Union’s Structural Funds. Structural Funds are monies allocated to regions to stimulate economic development. The West Midlands ERDF Programme will provide €400million of investment to create jobs and assist small and medium sized enterprises from now until 2015. For more information you can visit the AWM website at http://www.advantagewm.co.uk/working-with-us/erdf-programme.
- Achieve a significant increase in the productivity of the business base in the West Midlands.
- Reduce unemployment and inequalities.
- Ensure that the region’s economic growth is achieved in a sustainable manor.
Priority 3 – Achieving Sustainable Urban Development
The regional programme funding is split to achieve a number of Priorities. The focus of Priority 3 is to stimulate renaissance in the key urban areas by encouraging job growth and by helping communities most in need.
ERDF Priority 3 Birmingham Package
Birmingham is one of 6 urban Local Authority areas in the region with a ring-fenced allocation (‘Package’) of funds to achieve the regional ERDF Priority 3 Objective: Sustainable Urban Development. The Package Plan was approved by Cabinet on 26 November 2008. BCC became ‘Package Owner’: responsible for local policy leadership and co-ordination of development of applications for submission. The funds are still held at regional level. Birmingham City Council supports and co-ordinates its own departments and partner organisations to apply for the funds.
The Package area selected (see map) comprises the wards of Aston, Nechells, Washwood Heath, Bordesley Green, Sparkbrook, and parts of Ladywood, Springfield and South Yardley.
The area was selected based on its economic character and profile including co-incidence of older industrial areas, deprivation indices and growing new sectors (e.g. creative, high tech, environmental).
The Steering Group that endorses applications to go forward includes senior representation from BCC, AWM, Business Link, Skills Funding Agency, Chamber of Commerce, and the Aston Pride and Enterprising Communities Partnerships. The Steering Group endorses projects as contributing to the Package Plan.
The guideline size of projects is at least £0.5million, 50% of funding can be ERDF. Any enquiries about accessing the funding please contact Tara Verrell, email@example.com or 0121 303 3200.