A MILLION pound fund has been launched at the PSP Southampton Boat Show to boost the marine industry and create more jobs.

The £1.5million Solent Employer Ownership Programme will allow marine and maritime businesses to bid for money to develop proposals, create jobs, improve skills and drive growth in the region.

The Solent LEP (Local Enterprise Partnership) fund was officially opened by Brian Johnson, chairman of the partnership’s new Solent Marine and Maritime Steering Group.

Under the programme small to medium sized enterprises (SMEs) will be able to bid for upwards of £50,000 each and companies with 250 or more employees will be able to apply for £100,000 or more.

Mr Johnson said: “It is exciting to hear predictions that the Solent’s marine and maritime industries are to grow over the coming years, but that means marine employers need help now to ensure their workforces have the skills they need to capitalise on these opportunities.

“This latest fund will help them do just that and give ambitious employers the funds they need to bring growth plans to fruition.”

The fund will run for two years, with various rounds running during that time. The deadline for the first round is October 17.

Chris Allington, skills lead for Solent LEP, added: “Developing a world-class workforce is central to our growth ambitions for the Solent and this latest fund puts money directly into the hands of private sector companies that can drive that growth on the ground.

Apply at solentlep.org.uk.