Funding

Investment in the North East

What funding is available in the North East?

We manage multi million pound investment programmes designed to improve and support the North East’s economy. Over the period 2015 -2021, our investment programmes are valued at over £760m.

We also support a number of other funds that are directly linked to the delivery of the SEP, including the European Funding programme.

We manage the North East Growth Hub which contains a comprehensive directory of access to finance available within the region.

If you are interested in our inward investment opportunities, please contact the Invest North East England Team.

Applications for funding

Some of the funds we manage and support are open for applications from North East businesses. To find out more about the applications that are currently open, click here.

Our investment portfolio

Our investment portfolio is made up of the following funds.

Other funding streams

We also support a number of other strategic funding streams that support the delivery of the SEP.

FAQs

What funding has the LEP secured for the North East?

We have secured resources for the North East in different ways. We oversaw the development of  successful regional programme proposals to the UK Government to secure three rounds of Regional Growth Fund and Local Growth Fund investment. We prepared the strategy for European Strategic and Investment Funds and have used our resources to develop projects which lever significant additional resources for the North East.

With partners, we have prepared successful proposals for the 21 Enterprise Zone sites which have secured government tax benefits for investor business and will deliver a rolling investment fund over time. We have also secured resources from other sources for specific projects aiming to take forward aspects of the SEP, for example the Gatsby Foundation have resourced the regional project to improve careers advice and support and Horizon 2020 funding was secured to develop our engagement with European innovation platforms.

Where can I find out more information about projects that the LEP has funded?

All of the projects that the North East LEP is currently funding can be found on our projects page.

What funding is available for businesses?

The North East Investment Fund is available for businesses looking for capital funding.

If you’d like other types of funding for your business, please visit the North East Growth Hub.

Where can I find the LEP’s Assurance Framework?

The Assurance Framework is available in the ‘About’ section of our website.

How are projects selected for funding?

Projects are selected for investment based on the appraisal of grant or loan applications submitted in response to project calls.  Details of  project calls are published on our website. All project funding decisions are taken by the North East LEP Board or Investment Sub Board.

What governance is in place around LEP funding?

We manage all funding programmes in accordance with our ‘assurance framework’. The assurance framework sets out our processes for the identification, selection, approval, monitoring and evaluation of all projects. The North East LEP Board has approved the assurance framework and makes any changes that may be necessary to comply with the latest Government guidance to LEPs on their assurance frameworks. View our Assurance Framework.

Want to find out more about projects we have funded?

View our comprehensive projects listing now