£1m for growth bid is committed in Bradford (From Bradford Telegraph and Argus)

£1m for growth bid is committed in Bradford

12:00pm Tuesday 19th March 2013 in News

Bradford Council has now committed £1 million to city centre businesses as part of the City Centre Growth Zone.

Nineteen businesses have successfully applied for the Council’s Business Growth scheme which means they will receive a rebate against their business rates for the next three years.

The City Centre Growth Zone is part of a £35 million initiative funded by Bradford Council and the Government’s Regional Growth Fund.

Eligible businesses can receive rate rebates if they demonstrate that they are creating new jobs in Bradford city centre. Successful applicants could receive a business rate rebate of up to £16,000 for each new full-time equivalent job created per year for three years.

The Business Growth scheme Investment Panel met last week to give the approval for the latest applicants Sayers Bakers and Iconica Business Services, bringing the total of their commitments to £1 million.

The funding will result in the creation of 118 new jobs and helped boost the regeneration of the area.

The companies have also received free business support from Bradford Council experts.