Rugby Borough Council was awarded £916,716 from The Additional Restrictions Grant (ARG) project last September.
The council sought the expertise of the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) Growth Hub to find the Rugby businesses who were in a position to turn their expansion plans into reality post-Covid.
The top three industries that were assisted were the service sector; manufacturing; and engineering, logistics and hospitality.
CWLEP Growth Hub project lead Gary Thyeson and account manager Adam Plumb identified 25 businesses in Rugby, Dunchurch, Hillmorton, Stretton-under-Fosse and Ryton-on-Dunsmore ranging from the renting of boats, assembly and repair of narrowboats and commercial cleaning contractors, to a wheel hub manufacturer and vending machine supplier.
The ARG funding has led to the creation of 109 jobs and the safeguarding of a further 471, with each business receiving an average of nearly £37,000.
The grants helped towards funding a range of projects including refurbishing six boats, buying a five-axis cutting machine and extending a property to create office space and a training facility.
Cllr Jill Simpson-Vince, who was Rugby Borough Council’s portfolio holder for growth and investment at the time of the project, said: “Additional Restrictions Grants were a lifeline for many of the borough’s businesses during the pandemic lockdowns, with the council distributing more than £3 million to nearly 350 businesses.
“After securing nearly £1 million from Government to distribute a further round of ARGs, we were keen to target the funding to help drive the borough’s economic recovery from the pandemic, supporting businesses with robust plans for growth.
“By calling on the expertise of CWLEP Growth Hub, we have been able to help a diverse range of businesses across the borough, supporting the purchase of new equipment and the expansion of business premises.”
Craig Humphrey, managing director of the CWLEP Growth Hub, said The ARG scheme had made a real difference to 25 businesses throughout Rugby.
He said: “This all helps to boost the local economy as well as enable companies to bid for new work and go ahead with their expansion and fit-out plans.
Any businesses wanting help, advice or support should contact the CWLEP Growth Hub on 0300 060 3747.