Over 100 companies throughout South Yorkshire have been awarded cash via the Northern Powerhouse Investment Fund (NPIF) worth over £31 million, according to the region’s Mayoral Combined Authority (MCA).

These millions of pounds of funding have been received by a total of 116 firms in the region, and this has been topped up by another £24 million that was raised through investment from companies in the private sector. The availability of these funds has meant that the MCA for South Yorkshire has been able to support local firms through the pandemic and back their ideas and expansion to the tune of £14 million since Covid-19 hit.

Coupled with the advice that is available from sources such as accountants in Goole and other parts of the region, this will have been a major boost to these firms over the past year and a half.

The NPIF was set up by 10 separate north of England Local Enterprise Partnerships and the British Business Bank. It seeks to attract investors from within the private sector, and to help firms to expand and provide new job opportunities.

Dan Jarvis, the South Yorkshire MCA Mayor, told Rotherham Business News that:

“We are pleased to be working alongside the Northern Powerhouse Investment Fund to support South Yorkshire businesses.”

Jarvis went on to add that the investment that had been achieved had led to the creation of jobs for 477 people living within the region and that this, in turn, had helped to improve the levels of prosperity and growth for everyone.

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