RGF to invest £300 million in 50 projects across the country

Posted on 10 Apr 2014 by Tim Brown
Nick Clegg, Deputy Prime Minister and Vince Cable, Business Secretary, visiting GKN

Fifty projects have been given condition offers as a part of the latest round (round 5) of Regional Growth Fund (RGF) investment, announced today.

The Government said it expects the £300m in funding to unlock £1.9bn of additional private sector investment and create or safeguard thousands of jobs, while also generating thousands of jobs in the supply chains.

The RGF is a government pot to create sustainable employment and growth in a wide range of sectors across the country.

The fund supports areas that are traditionally more reliant on the public sector to increase private sector investment and encourage businesses to expand. This type of targeted investment helps to boost growth throughout the country and rebalance our economy.

Deputy Prime Minister Nick Clegg said: “Today we are investing more than £300 million to create thousands of jobs through the Regional Growth Fund. This is a vital fund that has already helped over 400 projects and 3,500 small and medium sized enterprises.

“This money will help unlock nearly £2 billion of additional private sector investment that will create sustainable and long-term jobs.”

Ministers will be visiting RGF projects across England today (10 April) to see how the fund is helping to rebalance the economy. The Deputy Prime Minister will be in Merseyside where he will visit 2 companies who have been awarded funding from the RGF:

At cooker manufacturer Glen Dimplex he will talk to staff about how the company will use their £3 million Round 5 RGF investment to expand their business, creating hundreds of jobs and boost the local economy.

He will also visit electrical cable manufacturer Tratos to talk to staff about how their RGF Round 4 investment of nearly £3 million is being used to expand the business and create and safeguard about 100 jobs for local people.

Business Secretary Vince Cable will visit automotive specialist Millbrook later today, a successful bidder in Round 5.

List of bidders with conditional offers:

  1. Absynth Biologics Ltd
  2. Anglia Metal Limited
  3. Aston Martin Lagonda Ltd
  4. Avanti Communications Group plc
  5. Becton Dickinson U.K. Limited
  6. Bournville College/Trinity Mirror Midands
  7. Cleveland Potash Limited (CPL)
  8. Close Brothers Ltd
  9. Compass Business Finance Limited
  10. Cornwall Marine Network Limited
  11. Cummins Ltd
  12. Dalepak Limited
  13. Dyson Technology Limited
  14. Elekta Ltd
  15. Farnborough International Limited (FIL)
  16. Finance For Industry Limited
  17. Fine Industries Limited
  18. Fine Tubes Limited
  19. Gestamp Tallent Limited
  20. Glen Dimplex Home Appliances Ltd.
  21. Gooch and Housego (Torquay) Ltd
  22. GT Energy UK Limited
  23. Hayward Tyler Limited (HTL)
  24. Huntsman Polyurethanes (UK) Ltd
  25. HydraForce Hydraulics Ltd
  26. Hydram Engineering Limited
  27. JDR Cable Systems Limited
  28. Johnson Matthey Davy Technologies Limited (JM Davy)
  29. KEWS Kent Woodland Employment Scheme
  30. Let’s Grow
  31. Lincolnshire Chamber of Commerce & Industry
  32. Maier UK Ltd
  33. Millbrook Proving Ground Limited
  34. MTCE Ltd
  35. Nice-Pak International Ltd
  36. North Devon+
  37. North West Logistics Limited (“NWL”)
  38. Really Useful Products Limited
  39. Reckitt Benckiser (Brands) Limited
  40. Redx Pharma Ltd
  41. Sense and Sense International
  42. Sertec
  43. SPP Pumps Limited
  44. Staffordshire Chambers of Commerce
  45. The Royal Bank of Scotland Group plc
  46. Tinsley Special Products Limited
  47. TRW Systems Ltd
  48. UK Steel Enterprise Ltd
  49. Unilever UK Central Resources Limited
  50. University of Derby