Investment strategy pays off to benefit jobseekers
Thursday 17th August 2017 @ 11:05 by Nigel P.
Business Community Greater Manchester News Tameside

Canny loans disbursed by Greater Manchester Combined Authority (GMCA) Core Investment Fund has provided a jobs dividend  creating 260 new posts across the county. 

Tameside Council leader Kieran Quinn who is also the GMCA lead for Investment Strategy and Finance  has announced £3.1 Million in new loans to businesses in Salford, Trafford and Stockport for the purpose of expanding their  business operations.

The money from the Core Investment Fund,  will come from recycled funds – money paid back from previous successful business loans made by the fund.

Five companies across Greater Manchester will benefit from the loan investment that will  allow them to create  the new jobs through business expansion.

Councillor Kieran Quinn, said: “I’m delighted that the Combined Authority has committed to helping even more local companies expand their businesses and their workforce, expansion which will help both the businesses and their local communities.

“Using recycled funds to help these companies grow highlights how successful our previous investments have been and how Greater Manchester is a great place to live, work and invest.”

Kids Allowed, a private nursery and childcare provider, has been loaned £600,000 to open two new, purpose built nursery sites in Trafford which is expected to create more than 100 jobs.

Cheadle based company Sitedesk has received a £150,000 loan to create 18 jobs in Stockport over the next three years as it seeks to expand use of its new building information modelling software.

£1.1m has been loaned to the Tailored Fire & Security Group (TFS), based in Trafford, to help create 50 jobs and assist with the expansion of their business onto a new site.

Manchester based IT company Intechnica has been loaned £150,000 to support the companies previous target of 44 new jobs and the creation of five new posts for their product development team.

Luxury clothing brand Private White V. C. has received a loan of £1.1m to expand their factory in Salford and create 88 new jobs.

 More information about GMCA investment can be found by emailing: [email protected]