Lincoln BIG has won £612,000 funding from the European Regional Development Fund, the largest single offer of grant support it has secured to date.
The money, which must be used by December 2014, has the potential to help unlock more than £1 million worth of investment in the city.
Lincoln BIG Chief Executive Matt Corrigan said: “The money, which will support the Revival Lincoln project, comes at a time when Lincoln is growing in prominence as a great shopping and tourist destination.
“This is the largest single offer of grant support that we have secured to date. However, we have had to specify exactly how we want to use the money and it will require match-funding at the rate of 40%.”
Some of the funding will be used for Lincoln BIG to support its partners in driving-up business and spreading the word about Lincoln’s attractions, by updating its websites and the wider use of social networking, digital signage and environmental improvements.
“The funding will allow us to review signage in the city and look at ways to make it even easier for visitors to find their way around,” said Mr Corrigan.
Money will allow Lincoln BIG to make further “back office” improvements at the city’s Castle Hill Visitor Information Centre as a digital information hub.
“We will also be working with the Lincolnshire Chamber of Commerce to develop a range of business support measures, including training and business advice, to help city businesses become more successful,” Mr Corrigan added.
— This article first appeared in the Lincolnshire Business Week newsletter, a weekly dispatch of business news from across the county, delivered to your inbox every Monday morning. Subscribe for free here.