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What is ERDF ?
The European Regional Development Fund (ERDF) forms part of the European Union (EU) Cohesion Policy. It seeks to promote sustainable economic development in regions across the EU Member States.
Under the Regional Competitiveness and Employment strand ERDF provides resources for investment in support of the Lisbon Agenda of innovation, growth, competitiveness and jobs in 168 EU regions. The North East is eligible for support as one of the Regional Competitiveness and Employment Regions.
ERDF is a major EU policy in instrument helping to address regional imbalances in economic performance and jobs. The legal basis for ERDF is found in EU Regulations. As such it is governed by stringent eligibility criteria and rules of procedure.
ERDF in North East England
The North East England ERDF Competitiveness Programme 2007-13 is bringing an additional £255m into the region to support investment in the priorities set out in the Regional Economic Strategy.
ERDF investment will directly support the growth of a modern, innovative and sustainable regional economy. It will strengthen our entrepreneurial culture, grow our business base and exploit our science, new and renewable energy technology and innovation potential.
Programme Priorities
ERDF investment in the North East is focusing on two key priorities that are closely aligned with the Regional Economic Strategy and reflect the EU Lisbon Agenda to promote growth and employment in European Member States. Priority 1 – Enhancing Exploiting Innovation and Priority 2 -Business Growth and Enterprise A third priority Technical Assistance will support the administration, delivery and evaluation of the programme.
Full details of the Programme and key documents can be accessed via www.onenortheast.co.uk