City of Wolverhampton Council is delivering the scheme, which offers eligible businesses a one off amount, even though it is not legally obliged to do so.
The scheme, which opened on 3 April and was extended on 25 May, is not intended to recompense for loss or hardship but to help businesses seize upon the opportunities created by the multi million pound city centre west investment.
A total of £350,000 has been allocated for the grants alone and more than 40 businesses have so far applied. The total support package is over £400,000 representing a significant sum of tax payers money.
City of Wolverhampton Council Deputy Leader and Cabinet Member for Inclusive City Economy, Councillor Stephen Simkins, said: “We are supporting the traders in ways other councils wouldn’t and it is entirely down to them if they wish to apply for this grant.
“Our sole motivation is to support businesses to take this opportunity as it would be a shame for them to miss out – and I would urge any eligible traders who have yet to apply for the grant to act fast. Our officers are on hand to provide one to one support with the application process for any traders that need it.
“The Victoria Street and North Street areas are now fully open following extensive public realm improvement works that are part of a £22 million package of investment in the west side of the city centre.
“A better environment has been created that is attracting more visitors and will enable businesses to thrive and grow through a blended approach of retail supported by events and activities in quality public spaces and city centre living.
“Businesses have already benefitted from key events like the first Wolverhampton Arts Festival held by The Framer’s Gallery, Enjoy Wolverhampton and the Council, the Food, Drink and Artisan Market, and Pride - all bringing thousands of visitors to this part of the city centre - with more events to come.
“We’re also developing a new Box Space entertainment venue, just off Victoria Street, which is set to open in 2024, and people are enjoying the new space around The Halls Wolverhampton, which has reopened to rave reviews from local businesses, who are already benefitting from the 300,000 plus visitors a year the venue will attract and the £10 million annual boost to the local economy.”
Business support is available by visiting Wolverhampton Employer Support or calling 01902 555572.
