This project is receiving up to £43.6 million of funding made up of £21.8 million from the European Social Fund and £21.8 million from the Youth Employment Initiative, plus match funding of up to £21.8 million from the National Lottery Community Fund and partners.
European Social Fund – Youth Employment Initiative
The project is receiving up to £43.6 million of funding from the European Social Fund and Youth Employment Initiative as part of the 2014-2020 European Structural and Investment Funds Growth Programme in England.
The Department for Work and Pensions (and London intermediate body Greater London Authority) is the Managing Authority for the England European Social Fund programme. Established by the European Union, European Social Fund helps local areas stimulate their economic development by investing in projects which will support skills development, employment and job creation, social inclusion and local community regenerations.
Black Country Impact project partners and overall funding allocation
The Black Country Impact is made up of five partners, Dudley Council, Sandwell Council, Walsall Council, Wolverhampton City Council and Black Country Talent Match (Wolverhampton Voluntary Sector Council project funded by the National Lottery Community Fund).
The specific breakdown of funding for the Black Country Impact project is made up of up to £21.8 million Youth Employment Initiative funding, £21.8 million European Social Fund and £21.8 million of match funding from the five Black Country partners (which also includes £8 million of match funds from the National Lottery Community Fund).
This brings the total value of Black Country Impact project to £65.4 million, with a completion date for activity of 31 December 2022.
National Lottery Community Fund– match funders of the Black Country Impact project
The National Lottery Community Fund supports the aspirations of people who want to make life better for their communities across the UK. It is responsible for giving out 40% of the money raised by the National Lottery and invests over £650 million a year in projects big and small in health, education, environment and charitable purposes.
Since June 2004 the National Lottery Community Fund has awarded over £8 billion to projects that change the lives of millions of people. Every year the Big Lottery Fund funds 13,000 small local projects tackling big social problems like poor mental health and homelessness. Since the National Lottery began in 1994, £34 billion has been raised and more than 450,000 grants awarded.
Black Country Talent Match
Funded by the National Lottery Community Fund and focuses on youth unemployment and especially long-term youth unemployment. Black Country Talent Match is a five year, £10.3m project supporting young people aged 18-24 who have been out of work, training or education for at least 12 months and who require additional support to overcome specific barriers to employment. Talent Match is match funding up to £8 million towards the Black Country Impact project.