BUSINESSES and organisations in three Wyre Forest areas will be eligible for financial support from the EU.
Aggborough and Spennells, Blakedown and Chaddesley – which includes the Hoo Farm Industrial Estate – and Oldington and Foley Park have been included in proposals for the new assisted areas map.
Assisted area status makes businesses and organisations eligible for support under EU regional aid guidelines and is designed to help less robust economies.
Businesses in assisted areas can bid for funding and tax breaks to create jobs or invest in new machinery. The map is designed to rebalance the UK and encourage growth in less economically advantaged areas.
The proposals are expected to be approved by the European Commission by the end of May and the new map will be operational by July.
Wyre Forest MP Mark Garnier, a Conservative, said: This could be a huge boost for our local economy and will encourage businesses to grow, develop and thrive.”
Business and organisations will have to apply for funds.