regional selective assistance

regional selective assistance

see REGIONAL POLICY.

regional selective assistance

an instrument of REGIONAL POLICY used in Britain and the European Union as a means of encouraging new INVESTMENT in ASSISTED AREAS. Regional selective assistance in the form of cash grants is potentially available to all firms undertaking investments in the development and intermediate areas. Such aid, however, is discretionary - ‘selectivity’ requires that the investment project should have a good chance of paying its way, that assistance is vital for the project to go ahead (i.e. without the grant the project could not go ahead at all or only on a smaller scale) and that the project should contribute to both the regional and the national economy. A project grant is based on the fixed capital costs of a project and the number of jobs it is expected to create or safeguard. The amount of grant is negotiated for the minimum necessary for the project to go ahead on the basis proposed, up to a ceiling set by the European Commission of 30% of the project's cost. This is obviously open to manipulation but has been useful in enabling the authorities to attract foreign firms into the UK, for example, the location of the Nissan car assembly plant in Washington, Tyne and Wear. See also ENTERPRISE GRANT SCHEME.
References in periodicals archive ?
Between March 1992 and April 2002 a total of 149 Regional Selective Assistance grants totalling pounds 212m were given to 121 foreign corporations to invest in the North-East.
In North and mid Wales, parts of Alyn and Deeside, Delyn,Brecknock and Montgomeryshire are eligible for both regional selective assistance and enterprise grants.
The investment has been supported by the National Assembly for Wales, which provided Regional Selective Assistance grant aid, and the Welsh Development Agency.
The businesses, which have been offered Regional Selective Assistance grants, range from the manufacture of soft drinks to the provision of financial services.
The Regional Selective Assistance funding is conditional on at least 600 jobs being kept.
RHL has received a pounds 2 million Regional Selective Assistance grant from the Scottish Executive to help fund the project.
A TOP North Wales industrialist has been re-appointed to a body which advises Economic Development Minister Andrew Davies on bids for regional selective assistance.
The investment was supported by the National Assembly, which provided Regional Selective Assistance grant aid, and the Welsh Development Agency.
The initiative is supported by the Welsh Assembly Government through the Regional Selective Assistance Grant Scheme and Wales economic development and transport minister Andrew Davies said he was delighted that the company had chosen Wales as its Northern Hemisphere base.
Today's announcement of regional selective assistance grant support shows how we are also supporting the growth of our existing companies while creating top-quality jobs.
ADC are believed to have received a six-figure sum from the regional selective assistance scheme when they arrived in Scotland two years ago.
Nissan, which has received pounds 170m in regional selective assistance in its 17-year history, consistently exceeded grant conditions to create and maintain jobs.

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