Long Eaton-based live events company, On Event Production Co, is set to relocate to new purpose-designed premises in Castle Donington, after receiving funding from the Derby Enterprise Growth Fund (DEGF).
On, which is currently based on the Acton Road Industrial Estate in Long Eaton, has received a loan of £182,000 and a grant of £100,000 from the DEGF, which aims to support growth and job creation in businesses in Derby and the surrounding areas.
The funding will enable the company to proceed with the fit-out of its new headquarters on the Trent Lane Industrial Estate in Castle Donington and further develop its new in-house fabrication unit at the 15,000 ft2 premises, which is double the size of its previous accommodation.
It will also allow On to purchase a range of new equipment, which will enable it to offer more to its customers and clients.
The funding has also facilitated the creation of eight new posts across all levels of the business, which will enable the company to cope with the increased demand from its established network of clients, which ranges from agencies to end-users.
Since it was launched in 2004, On has established itself as one of the region’s most creative production companies. Its talented team of production managers, designers and technicians provides production management and technical solutions for live events across the UK.
The £20 million Derby Enterprise Growth Fund (DEGF) is supported by the Government’s Regional Growth Fund and run by Derby City Council. The Fund focuses on stimulating innovation, expansion and investment in enterprises with the key objective of creating jobs.
Commenting on receiving the DEGF funding, managing director, Guy Eaton said: “We are delighted to be able to expand our operation to a larger, purpose-built facility in Castle Donington, thanks to the award of DEGF funding.
“This is a very exciting time for the company, allowing us to further invest and expand our in-house fabrication unit and roadshow division. The additional investment has also allowed us to broaden the experience of our already talented team alongside some exciting new training roles.
“The funding from the DEGF will enable us to reinforce our position as one of the region’s most creative production companies, providing a competitive edge over our rivals and allowing further expansion in the future,” added Guy
Derby City Council Deputy Leader Cllr Martin Rawson chairs the DEGF panel of industry and financial experts who consider applications.
He added: “DEGF support has enabled businesses of all sizes and in a number of sectors to accelerate their growth plans – creating more high quality local jobs for local people.
“It has therefore been a catalyst for innovation in the city and travel to work area where entrepreneurial spirit and drive is particularly prevalent.”
Due to the unparalleled success of the Fund in making loan investments rather than simply distributing grant payments, the Fund will be available to support businesses for years to come. To find out more visit: www.derby.gov.uk/degf. Alternatively call 01332 641628 or email firstname.lastname@example.org