NFM Launches £75k Jobs Fund

A Newcastle-based film agency has launched a pilot jobs fund in a bid to create more jobs within the creative industries in the North East of the UK.
Northern Film & Media(NFM) is looking to make up to £75k in grants available for ‘ready-to-go’ North East film, TV or digital media company expansion programmes or production projects that will create jobs in the region this spring.
Modelled on the Regional Growth Fund, the pilot Creative Jobs Fund is the first initiative of its type to be ring-fenced for the creative industries. Combined with match funding, the Fund will create an investment pot of £150k to stimulate the creation of new jobs and growth in the sector.
The Fund will examine the impact that relatively modest levels of public funding – typically (though not exclusively) £5k - £20k - can have on generating jobs and driving growth in the creative industries.
To date, the region’s creative companies have had a poor-record in attracting investment from centralised and other non-sector specific funds.
Successful applicants must demonstrate an ability to generate or sustain new jobs that have not previously been supported by ERDF. Funding decisions will be based on ability to generate jobs, value-for-money and commercial viability. The fund is looking to back projects or companies that will generate jobs and revenue immediately.
"There are around 2,100 people working in the North East creative industries and the sector has experienced solid growth through relatively small levels of public subsidy over the past decade," said Tom Harvey, Northern Film & Media's chief executive.
"We want to see more creative companies securing investment from centralised or non-sector specific funds. If they are to be successful, they will have to demonstrate an ability to generate a significant amount of jobs.
"This pilot fund will test the ability of the sector to deliver on the outputs expected from larger initiatives such as the Regional Growth Fund," added Harvey.
(LB)