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Investing in Business RSA Cymru Wales (Regional Selective Assistance) and

Investing in Business RSA Cymru Wales (Regional Selective Assistance) and Assembly Investment Grant Julia Hughes Invest Wales. RSA and AIG Discretionary grants Notified (not de minimis) Capital investment in Wales that will improve profitability, efficiency and quality

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Investing in Business RSA Cymru Wales (Regional Selective Assistance) and

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  1. Investing in Business RSA Cymru Wales (Regional Selective Assistance) and Assembly Investment Grant Julia Hughes Invest Wales

  2. RSA and AIG • Discretionary grants • Notified (not de minimis) • Capital investment in Wales that will improve profitability, • efficiency and quality • Expansion, modernisation, restructuring or start-ups • RSA – Assisted Areas only • RSA – must create/safeguard jobs • AIG – SME’s only, all Wales

  3. Who can apply • Manufacturing companies, unless EC restrictions • Service sector, except those serving local areas • Not retail • Projects that cause over capacity and/or job losses • elsewhere are unlikely to qualify

  4. Eligible capital spend • Plant and machinery • Office equipment • Fixtures and fittings • Intellectual Property Rights (IPR) • Vehicles essential to the project • Land & buildings if part of the project

  5. Job Grant • Exceptional at our discretion • New jobs must be linked to capital investment • Low capital investment, ie R&D, IT, CRM • Unusual to apply to manufacturing project • Has to meet the criteria

  6. Criteria • Location • Additionality/need for grant • Viability • Efficiency • Quality

  7. Quality Assessment • Value for money • Introduction of competitive products • Good salary levels • Good management practices • Training plans to support skilled jobs • Equality of opportunity • Use of technology • Innovation/R&D activity • Economic and environmental sustainability

  8. Process • AIG • ROI • Application form and supporting information • Appraisal • Offer • RSA • Initial contact • Meeting(s) • Business plan • Application • Appraisal • Offer

  9. Information Required • Completed forms • Cash flows, p&l, balance sheets • Business plan – • General background • Products/process • Market information • Financial results • The project • Management and labour • Sustainability • Innovation • Financial forecasts & funding • Need for grant

  10. RSA Refocus • Productivity • Competitiveness – quality • innovation • training • Higher value added • Equal opportunities • Sustainability – economic and environmental

  11. RSA moving forward • Move away from culture of grant dependency • One stop shop approach • RSA just one part of the resources available • More flexible & innovative packages tailored to • the needs of the company • More emphasis on training & training support • Evidence based policies and interventions – • quality assessments and GVA tests • Single source of investment funding

  12. New Assisted Areas • WWV retains Tier 1 status from 2007 to 2013 • Level 30% Gross Grant Equivalent • SME’s – 30 % ceiling increased by 20% GGE for small • enterprises, 10% for medium • Tier 2 areas – 10% GGE • SMEs – 20% and 10% increases

  13. Key changes affecting RSA • Gross grant , not net • Motor vehicle sector no longer subject to tighter aid • ceilings for larger projects

  14. Contact details Julia Hughes 02920 823693 General Enquiry: 08454 10 10 10 www.wales.gov.uk./investmentfunding

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