HUNDREDS of new jobs could be created by a £2 million grant programme that will aim to unlock investment among St Helens businesses.

The St Helens Jobs and Growth Fund, funded by the Government and managed by St Helens Chamber, was officially launched on November 5.

It aims to support businesses to access the finance they need to grow and create new jobs within the private sector.

Grants of up to £70,000 are available to provide investment for growth, when suitable finance is not available elsewhere.

Funds are available for projects that will create new employment opportunities, such as purchasing new premises, expanding current premises or capital expenditure on plant and machinery.

Geoff Bates, RGF programme manager at St Helens Chamber, said: “This new fund is great news for St Helens.

“Businesses in St Helens want to invest, to grow and create jobs and this funding will give them the opportunity to leverage the private sectors finance to do this.

“Interest in the funding has already been high, with a total of 47 inquiries seeking grants already in the pipeline.

“If approved, the expressions of interest already received have the potential to unlock £6 million in private sector investment and create approximately 320 new jobs within the borough.”

Businesses can apply for grants of up to 20per cent of their total project value.

Eligible projects should have a minimum total value of £20,000. The maximum grant available is £70,000.

Applications for funding will be assessed on a competitive basis by an investment panel.

All funding must be awarded by March 2015, meaning the emphasis is on businesses to get their expressions of interest in as soon as possible.

For further information and to download an expression of interest form visit sthelenschamber.com/rgf or call Geoff Bates on 01744 742087.