A business support fund that helped companies create more than 2,000 new jobs in the North East has been extended until the end of the the year, with an extra £10m added to the funding pot.
The North East Fund had originally been due to come to a close at the end of March, with £120m of funding from the European Regional Development Fund to help companies grow and create jobs. But now an extra £10m has been added to the money available to local companies and it may be set to continue into 2024.
The fund was originally launched in 2018 to invest in companies in Northumberland, Tyne and Wear, and County Durham. So far it has invested around £100m in 400 companies, helping them to secure an additional £200m from other partners.
