An innovative grant scheme which has helped secure over #5.2 million of private sector investment for the Black Country has been extended.
Since it was set up two years ago, Black Country Investment's Relocation Investment Grant programme has awarded over #258,000 to businesses across the region, creating 339 new jobs and safeguarding a further 876.
Grants are aimed at small or medium-sized companies with high growth potential that are looking to move within the Black Country.
A maximum award of #12,000 is available to qualifying firms, depending on the overall level of project investment.
Fifty-three entrepreneurial businesses have benefited so far and according to Graham Ropson, investment manager at BCI, companies have everything to play for.
He said: "The Relocation Investment Grant allows us to provide tangible support to dynamic firms keen to make the Black Country their home.
"It offers a real opportunity to organisations looking to grow and prosper within the region and we're keen to see more businesses taking advantage of it."
It's a view welcomed by Aron James, managing director of #6 million turnover Chemtech Waste Management – a specialist in the treatment of hazardous waste and one of the latest firms to benefit from a Relocation Investment Grant.
The waste management and environmental services expert, which is celebrating its tenth anniversary this year, secured #12,000 from BCI to aid its relocation to Walsall.
Mr James said: "Over 50 per cent of our business is derived from the Midlands, so it was important for us to retain our national headquarters within the region.
"Originally, we operated from a site in Aldridge, but as our business has grown, it became clear we required a much larger facility that would cater for our expanding needs and ambitious growth plans.
"With BCI's help and support, we identified suitable premises in Brownhills and we used the relocation grant to help refurbish the building and purchase new plant and bespoke IT equipment.
"Since then, we have gone from strength to strength and we now employ a team of over 50, ten of whom joined us after the move."
Chemtech Waste business development manager Paul Gatcliffe and Graham Ropson, investment manager for Black Country Investment