Jersey job creation fund 'may start by October'

A £5m government fund aimed at creating jobs in Jersey could be running by October, its chairman has said.

Tim Herbert, a qualified advocate, has been appointed as chairman of the panel overseeing the Jersey Innovation Fund.

He said he aimed to appoint three independent non-executives directors before the end of September and officially launch the fund in October.

In May the States approved the money for the fund, through which companies can apply for up to £500,000.

Senator Alan Maclean, Economic Development Minister, appointed Mr Herbert who works as a legal consultant, is a non-executive director of a number of funds, the Jersey Legal Information Board and the Channel Islands Stock Exchange.

Senator Maclean said: "Tim brings considerable skills and knowledge to the board in his role as chairman.

"The creation of the Innovation Fund is an important element of government commitment to support growth and diversification in our local economy."