Invest in Torbay Soft Landings

This programme is provided by Torbay Development Agency (TDA).

Torbay is home to rapidly growing multinational manufacturing businesses. The Invest in Torbay Soft Landings growth package provides an incentive to foreign owned companies looking to become part of this manufacturing base.

Funding is being provided to encourage foreign owned firms to expand, relocate, grow and create jobs in Torbay. Many of the local manufacturing facilities are supported by high levels of research and development, led by expert engineering teams, designing and developing new products for demanding global markets. Companies relocating to Torbay will be part of a growing network of manufacturing businesses that are already benefitting having a base in the area.

Value Notes

If successful, each company may be awarded an amount of up to £10,000 (subject to criteria).

Coupled with the Invest in Torbay Soft Landings, manufacturers considering Torbay as a location can look to apply to the Torbay Economic Growth Fund for a commercial loan with a low rate of interest. This provides additional finance to support a new investment project, easing cashflow concerns, as a company expands into Torbay.

Applications can be made at any time and will be reviewed on a case by case basis.

For further information on how to apply and to discuss an investment/expansion project in more detail, interested parties should email enquiries@tda.uk.net

This fund is open to foreign owned companies to expand or locate, grow and create jobs in Torbay. It is available to SMEs (250 employees or fewer), which are overseas owned and committed to relocating all or part of the company to Torbay before 31 March 2022. Foreign owned companies already in the UK but with no presence in Torbay can also apply.

A minimum job number of 5 at a skill level of level 4 and above must be created within 12 months of successful application.

R&D should form part of the project activity.

The applying company should be in priority industry sector:

• Photonics & Microelectronics
• Marine Industries & Marine Sciences
• Manufacturing
• Medical & Healthcare technologies

The grant can be used against both capital and revenue costs associated with the company’s investment into Torbay, including:

• Recruitment of new staff locally.
• Building and capital equipment costs.
• New product development and R&D.