European Regional Development Fund
The ERDFi aims to strengthen economic and social cohesion in the European Union by correcting imbalances between its regions. ERDF supports regional development through actions such as business innovation and support and regeneration.
In short, the ERDF finances direct aid to investments in companies (in particular SMEs) to create sustainable jobs, infrastructures linked notably to research and innovation, telecommunications, environment, energy and transport and financial instruments (capital risk funds, local development funds, etc.) to support regional and local development and to foster cooperation between towns and regions.
The new programme will invest £2.5bn in the English regions. The total Northwest ERDF allocation is £521million.
Northwest ERDF allocation (excluding Merseyside) is £308m (within the NWOP, Merseyside has transitional status and a ring-fenced financial allocation to allow the area to adjust gradually. The day to day management and delivery of English ERDF programmes is transferred to the Regional Development Agencies (RDAs).
In the Northwest, the Northwest Regional Development Agency (NWDAi) is responsible for managing the ERDF programme. The North West Operational Programme (NWOP) for the European Regional Development Fund was approved by the European Commission on 17 December 2007.
NWOP aims to: create 26,700 additional net jobs; improve the region's annual Gross Value Added by £1.17 billion; and a 25% reduction in additional carbon dioxide emissions generated from ERDF programme investments.
For an up to date list of organisations that have been awarded ERDF funding under the Northwest ERDF 2007 - 2013 programme please visit: ERDF Programme Beneficiaries