Birmingham company benefits from Green Bridge scheme
Councillor Tahir Ali, cabinet member for development, transport and the economy, visited Thermotec Plastics Ltd in Witton that has benefited from council-managed scheme that supports businesses across the region.
The Green Bridge Supply Chain Programme provides grants to small and medium size ‘supply chain’ businesses and is expected to create and safeguard over 4,500 jobs and attract over £114m in private sector funding.
It offers grants of between £10,000 and £1 million to support businesses diversifying into the green sector.
The £75 million programme was funded by the regional growth fund (£20m), European regional development fund (£7.5m) and private sector match funding £47.5m).
The city council delivered 15 competition funding rounds, having received 454 applications. Of these, 133 were withdrawn or declined with 324 applications recommended for funding.
Councillor Tahir Ali, cabinet member for development, transport and the economy, said: “This scheme has been a real trailblazer; the first of its kind and a fantastic example of how working in partnership across the region can benefit businesses.