In April 2022 the UK government published the UK Shared Prosperity Fund (UKSPF or the Fund) prospectus. This prospectus set out the vision of UKSPF to support local places in every part of the UK, investing in 3 priorities; Communities and Place, Supporting Local Business and People and Skills. The UKSPF is central to UK government’s ambition to level up the whole of the United Kingdom, leading to higher wages, and greater opportunities.
Within Northern Ireland, the UK Shared Prosperity Fund provides £126,854,145 of new funding for local investment to March 2025. This Investment Plan details how Northern Ireland’s overall allocation will be spent and the impact that we expect it to have. The Fund will help places right across Northern Ireland achieve enhanced outcomes, by:
- Supporting local businesses and entrepreneurs to innovate, thrive and grow, further unleashing the potential of the private sector;
- Supporting individuals furthest from the labour market and by moving more people into work with the right skills; and
- Investing in the places where people live, restoring a sense of community, local pride and belonging.
The government have worked closely with local partners to develop this plan and aim to invest in line with its content, drawing on insight and advice of key partners to ensure that the selected projects represent value for money and deliver for the people of Northern Ireland.
For manufacturing firms here this means
With centres of excellence that continuously innovate, Northern Ireland’s advanced manufacturing sector and wider manufacturing base is also punching above its weight. While representing 6% of the NI business base it employs 11% of the workforce and generates 15% of GVA. UKSPF represents an opportunity to build on success through targeted support for industrial digital technologies and wider tech adoption for manufacturers through Made Smarter activity.
To read the whole plan for Northern Ireland- click here