- Warwickshire Recovery and Investment Fund
Warwickshire County Council is to create a £140 million fund to stimulate the county’s economy, create jobs, support local businesses and bring investment into the county. The Warwickshire Recovery Investment Fund (WRIF) aims to allocate £140 million over the next five years, offering loans and other financial investments to existing and new Warwickshire businesses to help their long-term recovery and growth, create and safeguard jobs, and attract new inward investment into the county, further stimulating the local economy. The Council is expecting that the Fund will be open to the first applications later in 2021 and will start engaging with potential businesses over the Spring.
There will be a further £160 million investment in new housing, regeneration and creation of business premises via the Warwickshire Property and Development Company to be launched later this year. The company will deliver new affordable and market priced homes and a range of commercial and mixed-use properties using the Council’s existing land and property assets to drive growth and regeneration. These are supported by plans for minerals extraction and renewable energy opportunities across the county.
The overall £300 million investment is a fundamental part of the Council’s Covid-19 Recovery Plan, and is expected to create over 3,000 jobs and safeguard many thousands more. It will drive recovery and regeneration while at the same time supporting the Council’s medium-term financial resilience.
Further updates on the WRIF will be published on the economic recovery web pages and in Warwickshire Means Business. You can also register your interest by emailing [email protected]