Decision details

Digital Inward Investment Fund/Strategic Inward Investment Fund

Decision Maker: Managing Director

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To enable the Combined Authority to actively support businesses impacted by COVID-19 by the introduction of a new Digital Resilience Fund supporting up to 200 businesses, while the merged DIIF and SIIF would also be used more flexibly in response to Covid-19.

To enable the merged DIIF and SIIF funding to be utilised more flexibly to support the needs of businesses in the City Region as well as inward investment projects.

Decision:

To approve that:

• The Digital Inward Investment Fund (DIIF) and the Strategic Inward Investment Fund (SIIF) are combined into one pot, which can be used more flexibly to support businesses in the Leeds City Region, who are growing and creating new jobs, as well as those who are responding to the challenges presented by COVID-19. This will create one fund with a total allocation of £13.45 million, of which £4.22 million has already been committed to businesses.

• The eligibility criteria for the Digital Inward Investment Fund is extended to enable grant to be provided to businesses from all sectors making investments in digital technologies and equipment to enable staff to work from home.

Publication date: 04/09/2020

Date of decision: 28/08/2020