Chesterfield firm to expand thanks to £50k grant
A Chesterfield firm is set to boost its workforce thanks to funding from the D2N2 Local Enterprise Partnership.
The Corrugated Case Company has secured a £50,000 grant from D2N2’s Unlocking Investment for Growth programme, which is backed by the Government’s Regional Growth Fund.
It will form part of a £205,000 project to purchase new machinery, allowing the company to produce new work and enter different markets.
Staff numbers will rise by five full-time employees to 38 at the Danesmoor site, where they design, manufacture and merchant corrugated packaging, point-of-sale displays and related packaging material and services.
Three new machines have been purchased with the last of them to be installed in late Nov to create cost-effective types of packs they cannot currently produce whilst a new waste ink cleaning system will allow them to work in a much more environmentally friendly manner.
Mark Wilcockson, M.D. of The Corrugated Case Company, said: “This tranche of investment represents stage three of our three-year investment programme which started back in 2012 and will culminate with a large scale extension to our Danesmoor premises during 2015. I’m very pleased to say that throughout the period all sales and profit forecasts have been met which gives us great confidence going forward.”
David Ralph, Chief Executive of D2N2, the Local Enterprise Partnership for Derbyshire and Nottinghamshire, said: “This grant was deemed essential to their plans and the jobs created will be in a high priority area of the region.”
D2N2 secured £5m from the Government’s Regional Growth Fund, topped up further by the European Regional Development Fund, to help businesses grow through its Unlocking Investment for Growth (UI4G) programme.
Since launching in 2013, the programme has approved £3.2 million in grant funding which will create more than 300 jobs. Further applications that are at an advanced stage are requesting in excess of £1.6m and expect to create an additional 200 jobs.
But it is a time-bound opportunity, with capital projects having to be completed by March 2015.
The programme will provide a grant in support of capital investment projects with a minimum overall project value of £200,000. In exceptional circumstances up to £500,000 of grant funding is available for projects that can demonstrate real potential to create new jobs.
Source:D2N2 Local Enterprise Partnership (LEP)