Businesses in a Sussex town are being invited to bid for grants up to £100,000 as part of plans to improve economic growth in the area.

Newhaven Enterprise Zone wants businesses to bid for its Transforming Newhaven Fund which will help support businesses to deliver regeneration of the town, create jobs and deliver new or upgraded floorspace.

The main aim of the fund is to help the town’s economy grow and to improve the health, wealth and wellbeing of residents.

Corinne Day, programme director for Newhaven Enterprise Zone, said: “This is an exciting time for Newhaven, and we are looking for businesses and regeneration schemes which share our vision, passion and belief in the region.

The Argus: NEZ want to turn Newhaven into a major contributor to the Sussex economy by 2030NEZ want to turn Newhaven into a major contributor to the Sussex economy by 2030 (Image: Newhaven Enterprise Zone)

“Newhaven is a town with energy and a big drive to succeed, and the next three years offer a unique opportunity for businesses both in the town and in the wider region to expand their company in our town, with the added bonus of funding to help them on their journey.

“Building on the investment secured through the Town Deal, Future High Street Fund, Levelling Up Fund, Local Growth Fund and Getting Building Fund, the NEZ Transforming Newhaven Fund will provide businesses with grants or loans to deliver schemes to continue the town’s success story.”

The Transforming Newhaven Fund is a three-year funding scheme which will support transformational projects from the public and private sectors.

A maximum of £100,000 grant support is available, and the fund will also support loan and equity investment up to £200,000.

It will focus on projects which are net zero, create new, high-value and green jobs and which deliver placemaking.

Newhaven Enterprise Zone also plans to launch two further funds to boost the economy: The Newhaven Sites and Empty Property Fund and the Low Carbon Investment Fund.

For more information, visit NEZ’s website.