Gosport MP Caroline Dinenage has welcomed the dozens of jobs set to be created in Round 1 of the £2.1million Bridging the Gap fund.
Local companies and entrepreneurs were called upon to apply for the cash, which was the result of a successful Regional Growth Fund bid, this summer. The Solent LEP then scrutinised all applications, and announced the results this week.
Now funding of £201,000 has been given to 10 new businesses for projects worth more than £412,000 with the potential to create more than 60 jobs. And £390,750 will go to nine existing businesses which want to grow, supporting projects worth £1.3m.
The rest of the Bridging the Gap fund will be allocated during a second round of funding applications.
The companies and entrepreneurs now have twelve weeks to develop and finalise their business plans, before their identities are unveiled.
Commenting on the success of Round 1, Caroline said:
"I have supported Bridging the Gap from the very start and am looking forward to the first projects going live later this year. It's great news for local jobs and investment in our area, which was overlooked by successive governments for many years. Bridging the Gap is an important step to bringing sustainable growth to Gosport, Portsmouth and Havant, by targeting the areas that are most in need of job creation."
