The Coventry & Warwickshire LEP area has received an allocation of €136m through the European Structural Investment Funds (ESIF) and £2.7m from the European Agricultural Fund for Rural Development (EAFRD) for the 2014-2020 Programming Period.

In Coventry & Warwickshire, the funds will support economic growth by enabling our businesses to grow and innovate, and enhancing the skills of our workforce.

European Regional Development Fund (ERDF)

Despite the presence of world class innovation assets (particularly our internationally renowned universities, Manufacturing Technology Centre and MIRA), there is a need to address the differential between the economic performance of Coventry & Warwickshire and the national average.  In particular, there is a need to increase the proportion of our businesses that are innovating and working with these innovation assets, and increase the proportion of our Small and Medium Sized Enterprises (SMEs) that are “fast growing”. 

Our area has received an ERDF allocation of €68m to address these challenges and provide support to local businesses across four themes:

  • Supporting innovation and Research & Development (R&D);
  • Improving the utilisation of Information & Communications Technology (ICT);
  • Supporting new business start-ups and addressing barriers to growth faced by our SMEs;
  • Growing the low carbon economy.

We have already used some of this funding to invest in important projects that have enabled the development of a comprehensive local business support service.

European Social Fund (ESF)

A further challenge facing the Coventry & Warwickshire economy is skills deficiencies within the local workforce, particularly because the proportion of residents with no qualifications exceeds the national average.  Moreover, the employment rate amongst our adult population is below the national average.

Our area has received an ESF allocation of €68m to improve educational and employment opportunities for local residents, through:

  • Supporting access to employment and training;
  • Promoting social inclusion and combatting poverty;
  • Investing in education, skills and lifelong learning.

We have already used this funding to invest in crucial projects to enhance access to employment and develop skills locally.

European Agricultural Fund for Rural Development (EAFRD)

Coventry & Warwickshire has also received £2.7m of EAFRD funding to support economic growth within our rural areas across a range of themes:

  • Supporting the development of our rural micro, small and medium enterprises, including the diversification of farming businesses;
  • Supporting the growth of tourism in our rural areas, through enhancements to the tourism infrastructure and development of destination plans;
  • Enhancing the broadband infrastructure in our rural areas.

European Regional Development Fund

Delivering £115 million for research and innovation, ICT, SME competitiveness and the low carbon economy.

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EU Funding

£55 million

Public Sector Funding

£50 million

Private Sector Funding

£10 million

European Social Fund

£110 million has been secured to increase labour market participation, promote social inclusion, and develop the skills of the potential and existing workforce.

More

EU Funding

£55 million

Public Sector Funding

£50 million

Private Sector Funding

£5 million

Related Documents

European Structural and Investment Funds (ESIF) Strategy

The European Structural and Investment Funds (ESIF) are the European Union’s main funding programmes for supporting growth and jobs.

European Social Fund (ESF)

The European Social Fund (ESF), will deliver the Growth Programme’s priorities to increase labour market participation, promote social inclusion, and develop the skills of the potential and existing workforce.

European Regional Development Fund (ERDF)

The European Regional Development Fund (ERDF), will deliver the Growth Programme’s priorities for research and innovation, ICT, SME competitiveness, the low carbon economy, climate change adaptation and environment and resource efficiency.

European Agricultural Fund for Rural Development (EAFRD)

The European Agricultural Fund for Rural Development will deliver the Growth Programme’s priorities; enhancing Knowledge and skills in rural areas, supporting new and developing micro and small sized rural business, investing in small scale renewable and broadband investments in rural and supporting tourism activities in rural areas.

Relevant Links

Related Projects