This week the States Assembly agreed to establish the ‘fiscal stimulus fund’ to support Jersey’s economic recovery as part of a £150 million kickstart package that was announced in July.
Government departments, arm’s-length organisations and not-for-profit bodies will be able to apply for grants of up to £5 million from the new fund for projects that will finish before the end of next year.
The funding will be offered in two tranches of £25 million, with the first slice being made available yesterday.
Projects will be considered for funding if they support employment or business, develop skills training, improve infrastructure and property or boost productivity of staff.
Earlier this week, Richard Corrigan, the government’s chief officer for financial services, digital and enterprise, said it was hoped that all £50 million would have been allocated to projects by the end of March.
Treasury Minister Susie Pinel said: ‘A strong economic recovery will be grounded in sustainable jobs and a robust business environment. The fiscal stimulus fund will allow the government to support departments, businesses and the third sector in developing innovative projects that will add value over the coming year.’
Economic Development Minister Lyndon Farnham said that the fund would help ‘future-proof’ Jersey’s economy by setting up investment in jobs, skills training and businesses.
‘This year has been financially challenging for most organisations and this fund could provide eligible projects with the capital they need to help the Island bounce back,’ he said.
Expressions of interest to apply for funds need to be made by 31 December through an online form at gov.je/fiscalfund.