June 2012

AMSCI - the closing date for Advanced Manufacturing Supply Chain Initiative (AMSCI) applications is next week (13th June). The new cash fund worth £125m will benefit manufacturers looking to fund supply chains for their work find out more...

All systems go for the South Devon Link Road - HotSW has welcomed the news that the South Devon Link Road has been granted full approval and that a contractor has been appointed find out more...

New website - HotSW is currently working on a new website. If you have any ideas on content, please contact us.

The Heart of the South West LEP has been formed under the leadership of the private sector supported by the local authorities from Devon, Plymouth, Somerset and Torbay to create a powerful economic alliance.

Produced monthly, this newsletter aims to keep people informed of current news and activity.


Rural Growth Network launched

Caroline Spelman MP, Minister for the Department of the Environment and Rural Affairs, has launched the Rural Growth Network (RGN) initiative.
The scheme, worth £2.9m to the HotSW area, is one of five pilots around the UK - spearheading a national drive to encourage economic growth and enterprise in rural areas.

Ms Spelman met with representatives from HotSW, as well as Leaders and Deputy Leaders of Devon and Somerset County Councils. The Minister visited Highbridge, one of the proposed locations for the pilot, where a business park is planned to create incubation and light industrial business units, providing a ‘cradle to growth’ approach.
Chair of HotSW Tim Jones said: "This is an exciting challenge for Devon and Somerset and will give us the opportunity of showcasing our many dynamic rural businesses and how it is possible to promote new and innovative ways to achieve rural economic growth."

HotSW are still in dialogue with Defra, finalising details on the RGN: an update will be forthcoming in the near future.
To find out more visit the HotSW website.

Growing Places applications

The first stage of the shortlisting process for the Growing Places Fund applications is now complete.

Twenty-three applications were made to HotSW for a share of the £21.5m fund, which aims to boost economic growth in the area.

Of these, 13 applications have gone through to the next round and a decision is expected in August, after formal interviews and moderation has taken place.

The Growing Places Fund is a new funding initiative available to unlock stalled projects throughout the area: it will be distributed to capital projects and developments that are ready to commence, but have been postponed for financial reasons.

UK Trade & Investment update

Back in January, HotSW became the official government body responsible for coordinating foreign direct investment across the area.

So far, around 10 enquiries have been received from potential foreign investors to the HotSW area.

Representatives from HotSW have received training in relevant areas and the group are working together and sharing information as required.

To find out more about the UKTI memorandum of understanding, visit the HotSW website.

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