The Enterprise Hub @ SEIC 2 project will deliver 660 square metres of high-quality office and light industrial space to support the start-up and growth of small and medium-sized enterprises. The Hub will be located at Woodlands Business Park in Bridgwater as a component of the Somerset Energy Innovation Centre Phase 2 and is expected to open in 2020.
The Enterprise Hub @ SEIC 2 Project is being funded by the European Regional Development Fund and the Local Growth Fund.
The project is receiving up to £869,089 of funding from the England European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government is the Managing Authority for ERDF. Established by the European Union, ERDF funds help local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations.
The project is also receiving funding, through the Heart of the South West Local Enterprise Partnership, from the Government’s Local Growth Fund. By 2021 Government will have invested over £12 billion through the Local Growth Fund, allowing Local Enterprise Partnerships to use their local knowledge to drive forward economic growth across the country. Through the Local Growth Fund Local Enterprise Partnerships are investing in a wide range of projects including transport, skills, business support, broadband, innovation and flood defences.