Government

Luxus receives £150,000 from East Lindsey Council

 

Luxus Technical Centre

Plastics recycling company Luxus is to research and develop advanced recycled compound technology after receiving an £150,000 investment from East Lindsey District Council's Rural Development Fund.

The council fund was set up to ‘benefit the rural economy of East Lindsey’, in Lincolnshire, by providing financial support to businesses seeking to ‘create or safeguard local employment’, ‘support the creation of new business’, improve tourism or the local economy, or ‘develop and nurture the character and viability of [local] towns, villages and rural areas’.

The fund can support individual projects with up to 75 per cent of the project costs, to the maximum grant of £50,000 in any one year. The remaining 25 per cent of project costs must be provided by the applicant organisation. The funding may also provide contributory funding to a larger scheme.

Luxus has been awarded the maximum amount of £50,000 (£150,000 over the three-year project), which will help it develop recycled plastic compounds for use in the automotive industry.

The project will reportedly create 14 new jobs at Luxus’s Louth-based business, situated on the Fairfield Industrial Estate: 10 machine operators, two polymer technicians and two polymer technologists.

Fund ‘recognises the importance’ of local manufacturers

Speaking of the award, Portfolio Holder for Economic Development, Councillor Craig Leyland, said: "We are pleased to be able to support Luxus in what will be a cutting-edge project creating at least 14 jobs over three years.

"This is what the Rural Development Fund is all about – supporting local businesses, enabling them to survive and expand and creating jobs in our community."

Peter Atterby, Managing Director at Luxus, added: "We are pleased to achieve grant funding to support the future development of our technical plastics recycling business and therefore the local community through future job creation.

"In making this decision the East Lindsey District Council has recognised the importance of local, well-established manufacturers and the contribution they can make to its future economic plans."

Luxus added that the project has also received a further £134,925 from other sources.

Find out more about East Lindsey District Council's Rural Development Fund or Luxus.