The electronics business received a grant from Stoke-on-Trent and Staffordshire Grants for Growth to help its relocation and premises refurbishment.
Help from the Grants for Growth and Stoke-on-Trent and Staffordshire Local Enterprise Partnership’s inward investment team Make It Stoke-on-Trent and Staffordshire assisted the company in moving from cramped and outdated premises in Sandbach that they had outgrown to a much larger factory in Longton.
Grant funding of £60,000 contributed towards the purchase of the property and extensive internal refurbishment, increasing the company’s floor space from 2,500sq ft to 6,318sq ft.
Since moving Midway has created three new jobs and secured new customers, further enhancing its long-term growth plans.
Managing director Phil Harper said: “The new premises have allowed Midway to create a segregated workshop for ‘dirty’ work including drilling and cutting.
“This will be deemed a positive move by our customers who all operate in the clean environment of the scientific instrumentation sector.
“Workbenches have increased from 12 to 20-plus and we now have a dedicated testing and new product development area.”
David Frost CBE, chairman of the Stoke-on-Trent and Staffordshire Local Enterprise Partnership, said: “Midway Manufacturing has shown great initiative and we wish them well in their growth and investment plans for the future.
“This is a great example of the kind of support that the grant fund can offer – it is the opportunity for businesses to expand their horizons and give them that crucial extra support to help them grow.
“I encourage other businesses to come forward and talk to us about how they can apply for funding.”
Business grants and loans are benefitting hundreds of local firms in the region. The latest figures show that the Grants for Growth programme has secured £3.1m of investment in Staffordshire and Stoke-on-Trent since December 2016.
The Grants for Growth programme, run by Stoke-on-Trent City Council, provides grant funding for small-to-medium sized companies that wish to grow in the marketplace and create new private sector jobs in Staffordshire.
The minimum grant that can be applied for is £10,000 and the scheme goes up to a maximum of £250,000, which must be matched by a company’s own private sector or other equity funds. Grants are between 10 and 30% of total project value.
The final amount is dependent upon financial need, State Aid intervention rates, the size of the company, eligibility of items purchased and the number of jobs to be created.
As a minimum, total project costs should be at least £35,000 with the grant aid and like for like match funding to spent by 30 June 2019.
Grant funds for eligible businesses can be used for capital items including premises expansion or the purchase of plant, machinery and equipment, as well as a small amount of revenue expenditure for areas including website development and industrial property rights.
The Programme is
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