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Objective 2
Introduction
Objective 2 funding is made up of both European Regional Development Fund (ERDF) and European Social Fund (ESF). Its purpose is to renew industrial, urban, rural and fisheries areas that are in decline. Generally speaking, areas that suffer high levels of deprivation e.g. high unemployment and low skills are eligible.
Please note that certain parts of the West Midlands are ineligible for Objective 2 funding. In order to check eligibility please go to the website of the European Secretariat at Government Office for the West Midlands :
http://www.gos.gov.uk/gowm/EuroFund/?a=42496
and click on the ‘Post Code' tab.
Projects
What Type Of Projects Will Objective 2 Fund?
Objective 2 provides funding for a whole variety of projects and is broken down into 3 Priorities:
- Building a Diverse and Dynamic Business Base
- Creating Conditions for Employment Growth
- Regenerating Communities
Examples of projects that may be funded under Objective 2 include:
- Managed and Supported Workspace
- Community businesses and social enterprises e.g. Shops, Food Co-Ops, Childcare
- Credit Unions
- Developing Voluntary Sector structures
- Community Transport
Objective 2 funding will only cover a proportion of your project costs, usually 45 or 50%. If you are thinking of making an Objective 2 application and would like to know more about the whole process, call our European Funding Helpline or your sub-regional contact .
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