Steel giant Tata is to invest £1.5 million to help community initiatives and economic growth in an area affected by changes in its industry, the firm announced today.
The money is aimed at boosting regeneration in north Lincolnshire and Scunthorpe, which Tata Steel said was part of its response to the restructuring affecting its Long Products business in the region.
UK Steel Enterprise (UKSE), a subsidiary of Tata, said it will support businesses with the capacity to grow and recruit workers, help those considering self-employment and back local regeneration schemes.
Keith Williams, regional manager for UKSE, said: "This is a package of support to help boost businesses and employment in the local area. We want to help people to create new businesses and support existing companies in creating more jobs so that the local economy improves and the surrounding communities can prosper. If any local companies need finance to help them expand then we would like to hear from them."
UK Steel Enterprise has assisted more than 5,000 businesses, which between them have helped create over 70,000 job opportunities in the UK.