Council urged to allocate money for community benefit and job creation
Businesses in the borough of Hounslow will benefit from £364,000 in new government funding under the Local Authority Business Growth Incentives Scheme.
The investment, which was announced by John Denham, Secretary of State for Communities and Local Government, is designed to encourage local business growth through non-ringfenced grants awarded by local authorities.
“This is a great opportunity for the local community. Small and medium-sized businesses are the bedrock of the British economy. I am very pleased that Hounslow Council has been chosen to receive this funding which will help small and new businesses across the constituency to thrive and revitalize the high street," said Ann Keen MP.
She added, "as the funding is non-ringfenced, the local authority will have the freedom to spend it as they see fit. I hope that they do not waste this opportunity and allocate spending where the local community can benefit and create new and sustainable jobs."
The Local Authority Business Growth Incentives Scheme was introduced by the Government in 2005 and resumed in 2009 after a one-year hiatus aimed at improving the stability and transparency of funding.
Over £934 million has been distributed to local authorities under the scheme since its inception.
March 16, 2010