By the end of the 2000-2006 Programme, the funding partnership in the region will have invested over £500 million Objective 2 in the region to provide jobs, growth and a secure and sustainable standard of living.
Since 2000, Objective 2 has funded nearly 1500 projects in the region - from large public developments to small community initiatives. All have been designed to benefit the local economy and people. Funded projects have:
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supported the start-up and growth of small and medium sized businesses,
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improved the local environment to make areas more attractive to business and visitors,
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encouraged the development of a knowledge-based economy,
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created jobs and helped individuals into employment,
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tackled exclusion and engaged hard to reach groups in the community,
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help businesses to become environmentally sustainable, and
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protected and enhanced the North West’s natural and cultural assets.
The North West’s Objective 2 Programme is split into three ‘Priorities’ for action:
-Business and Ideas (Priority 1)
Around £175 million has been invested in ‘Business and Ideas’ in the North West to create a modern and dynamic regional economy.
Small to Medium Enterprises (SMEs) are critical to the economic prosperity of the region and European funding is helping them to create sustainable competitive advantage and jobs, at every stage of their development.
-People and Communities (Priority 2)
Approximately £120 million has and is helping to combat the problems experienced by socially and economically excluded people in the North West.
Among the issues being tackled by the funding are: low levels of economic activity, high unemployment, low skill levels and poor physical environment.
-Economic Development Zones (Priority 3)
A £235 million ‘Strategic Regional Investment’ is being made using Objective 2 to boost the economic and employment potential in designated Economic Development Zones across the North West.
The investment is creating new jobs, helping to address the region’s stock of derelict land and buildings, and ensuring that the jobs created are targeted at excluded groups and communities that have a significant proportion of working-age residents out of work.
Cross Cutting Themes in Objective 2
All projects that receive European funding in the region must contribute to each of three Cross Cutting Themes (CCTs):
These three areas are central to overcoming the social and economic obstacles to change, so that the North West can become a beacon for inclusion, new ideas and dynamism.
