Due Diligence Services Contract
North of Tyne Combined Authority is seeking to appoint an organisation to provide due diligence services for the North of Tyne Growth Fund and the North of Tyne Inward Investment Fund.
Provision of Due Diligence for North of Tyne
84000000 – Financial and Insurance Services
North of Tyne Combined Authority (NTCA) is seeking to appoint an organisation to provide due diligence services for the North of Tyne Growth Fund (NTGF) and the North of Tyne Inward Investment Fund (NTIIF). The North of Tyne Growth Fund is a new grant programme for the North of Tyne Combined Authority who is seeking to secure £4.65m of ERDF with SME match of approximately £10.5m from the 1st January 2020 to 31st December 2022. The grant fund will support SMEs in Newcastle, North Tyneside and Northumberland for capital investment projects to stimulate and enable sustainable business growth, and is funded by the European Regional Development Fund (ERDF) as part of the 2014-2020 European Structural and Investment Fund Programme, The North of Tyne Growth Fund is being delivered by the NTCA, in partnership with UMi, and is based on a successful model previously delivered through the ‘Let’s Grow’ Programme. The North of Tyne Inward Investment Fund is a new grant programme for The North of Tyne Combined Authority who has secured a £3m Inward Investment Grant Fund from the 1st October 2019 to 30th September 2022, providing financial incentives to help attract and secure inward investment projects to the area. This includes both foreign and UK-owned businesses seeking to invest in the North of Tyne area for the first time. The aim of the project is to provide grant incentives that will help to attract inward investment projects to the North of Tyne that would otherwise go to other locations. The objective of the project is to provide discretionary grants of between £100k and £1m and will be used to support significant levels of employment with the eligibility criteria of the fund to support large scale investments with high employment potential. The actual grant award will depend on the quality and number of jobs of the investing business and determined by state aid rules. Introducing these funds will provide the basis on which the NTCA can deliver against the commitment set out in their Vision to drive economic growth.
Due Diligence, Funding
Estimated contract dates
North Tyneside Council
Quadrant, Cobalt Business Park
Tyne and Wear
Expression of interest window
From 07/11/2019 15:00 to 22/11/2019 18:00