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Does EU state aid legislation apply to the Future Jobs Fund and can organisations make a profit?

April 26, 2017aid EU fund future jobs legislation organisations State

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Does EU state aid legislation apply to the Future Jobs Fund and can organisations make a profit?

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If the recipient of a Future Jobs Fund grant is not a public body or if the Lead Accountable Body in a partnership is not a public body, the grant recipient must have Community Interest Company (CIC) status or comply with the CIC governance structure – this could be via a Special Purpose Vehicle (SPV) which has the characteristics of a CIC. The DWP will require evidence that an organisation or Lead Accountable Body in a partnership has CIC status or that they have formed a Special Purpose Vehicle, with the characteristics of a CIC.