£20million EDRF funding bid to help boost Birmingham businesses
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A proposal to bid for £20 million of European Regional Development Funds (ERDF) to help urban development in Birmingham and the West Midlands was approved by Cabinet today (July 25).
With the recession and the credit crunch having impacted significantly on the development market within the West Midlands, this City Council-led initiative aims to unite local authorities from across the region to secure fresh investment finance into the area.
The overall fund worth £40 million will help the development of business accommodation, sustainable office and industrial projects, and specialist facilities for organisations to operate from.