Business Week Roundup February 11 - 17, 2012
17 February 2012This week, the expasion of a power station is still on track, Mablethorpe may benefit from new funding and Lincoln leads the way for start-ups.
Plans For Power Station Expansion Still On Track
Work to make Spalding Power Station bigger is set to begin in January 2013, provided the company behind the station can sell the extra energy created.
The £500 million expansion would see the station, owned by Intergen, not only double in size but also put out 900 kilowatts more energy — enough to power one million homes.
However, due to being an independent generator, Intergen needs to sell the extra power onto a large supplier or the wholesale market, in order to make the changes financially viable.
A spokesman for Intergen said: “Obviously we have to believe there will be a profit in going ahead with the expansion.
“We still have the arrangement with National Grid and the planning permission in place, so we are still working to that date but discussions on the commercial side are still ongoing.”
Due to government backing of the scheme, a further £7 million will be given to the local community.
Find out more on the Spalding Guardian|
Mablethorpe Could Benefit From Seaside Grant
Funding could be on the cards for Mablethorpe due to a government grant to boost projects and industries at seaside towns.
The £24 million Costal Communities Fund pot from the government aims to help projects lacking funding, improve emerging industries and also boost new, innovative projects.
Local businesses, charities and groups can apply for £50,000 to £2 million of the grant.
Communities Secretary Eric Pickles said: "This fund can make all the difference to these places we all know and love.
"This is a great opportunity for long overlooked seaside towns, large and small, to grab a chance to grow through imaginative and innovative projects that create skilled workers, and provide year round jobs."
Read more on the Louth Leader|
Lincoln Leads UK In Start-up Businesses
Lincoln has seen the biggest growth in start-up companies in the UK, beating big cities such as London.
According to a survey by Simply Business|, the city had a bigger start-up rate than London, with a 13.6% rise in 2011 from 2010.
Overall, the start-up industry is seeing its first rise since 2008, where it was down by 3.66%. In 2010-2011, the figure was up from 2008 by 6.7%.
Vicky Addison, Centre Manager at Enterprise @ Lincoln, said: “In such a challenging economic climate this is fantastic news for Lincoln and graduates who are increasingly setting up their own business in the city.”
