Last month, I welcomed the news that the town has been included in the new Assisted Area Status map.
Assisted Area Status permits the granting of additional financial support to small businesses and large enterprise in economically disadvantaged locations. This support aims to encourage business in these communities to grow, innovate and thrive.
I am absolutely delighted that Great Yarmouth businesses will soon have access to additional financial support, putting us on a par with UK competitors elsewhere in the country, and giving us the edge over many European firms. This announcement will increase the confidence and belief in the area of businesses already established in the area and potential future investors. I have been lobbying Government ministers for many months to make the announcement a reality and will continue to look for further ways to give Great Yarmouth families the best possible deal.
The European Commission has approved the UK Government’s submission! Great Yarmouth will enjoy Assisted Area Status from July 2014.