BUSINESSES and public sector organisations will be able to bid for a share of a £2million funding pot which was launched today to support regeneration projects across Hampshire and Surrey.

The Enterprise M3 Local Enterprise Partnership has launched a new round of funding from its Growing Enterprise Fund.

The fund was set up in 2012 to support economic growth by addressing infrastructure and site constraints which might prevent development and so far the LEP has awarded funding to 10 projects which have delivered new homes and jobs.

Projects which will qualify for the funding include improvements to transport, utilities, broadband, flood defences, land remediation and innovation and enterprise centres.

Enterprise M3 is seeking projects that will deliver economic growth, enable development where there is a proven demand, kick start or bring forward development, projects that can be delivered soon and can repay the funding quickly, and projects that offer value for money and help to deliver the Enterprise M3’s strategic economic plan.

Geoff French CBE, chairman of the Enterprise M3 Local Enterprise Partnership, said: “This fund is about giving our projects in the area the boost they need. It could be particularly useful for development sites which currently need a helping hand.

“Both the public and private sector can apply for the funding, which already has a good track record of success benefitting many businesses and other projects which are helping to drive economic growth, create jobs and build homes in the area.”

Mr French added: “It is exciting to see previous projects repaying the loan which allows us to re-invest in new projects to create even more jobs and build more houses in the area.”

Details of the funding pot can be found at enterprisem3.org.uk/round-4/.