Fund title: UK Assisted Areas for 2014-2020
Focus of fund/fund aims:
Assisted Area status brings greater flexibility in awarding public funds to businesses.
The new UK Assisted Areas Map for 2014-2020 has been agreed and includes greater coverage of Devon compared to previous years. Assisted Area status is not itself a guarantee of funding but businesses in Assisted Areas generally have access to a greater range of grant funding compared with businesses elsewhere. For example, some government schemes, such as the Business Premises Renovation Allowance, are set up specifically to support businesses in Assisted Areas.
The Assisted Areas Map for the UK was drawn up on the basis of the EU Regional Aid Guidelines and a detailed consultation exercise led by the Department for Business, Innovation and Skills (BIS). Devon County Council worked closely with the Heart of the South West Local Enterprise Partnership to lobby for greater coverage of underperforming areas of Devon which have potential for economic growth. The new map covers parts of Plymouth, Torquay, North Devon, Torridge, Teignbridge and South Hams.
The new map was approved by the European Commission on 21 May 2014. It is expected to come into force from 1 July 2014.