Cumbria has an allocation of approximately £72m* of European Funding for the period 2014-2020. This offers significant opportunities to support business growth, to create jobs and improve skills levels.
The funding is split across three main areas:
- European Regional Development Fund (ERDF) – Aimed at providing support for research and innovation activities, small to medium size business creation and growth and the creation of a low carbon economy.
- European Social Fund (ESF) – Aimed at providing support to increase employment opportunities, promoting social inclusion and investing in skills to enable people to reach their full potential.
- European Agricultural Fund for Rural Development (EAFRD) – This fund provides support for rural businesses to start-up, grow and expand, improve knowledge and skills and encourage tourism.