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:
- Absynth Biologics Ltd
- Anglia Metal Limited
- Aston Martin Lagonda Ltd
- Avanti Communications Group plc
- Becton Dickinson U.K. Limited
- Bournville College/Trinity Mirror Midands
- Cleveland Potash Limited (CPL)
- Close Brothers Ltd
- Compass Business Finance Limited
- Cornwall Marine Network Limited
- Cummins Ltd
- Dalepak Limited
- Dyson Technology Limited
- Elekta Ltd
- Farnborough International Limited (FIL)
- Finance For Industry Limited
- Fine Industries Limited
- Fine Tubes Limited
- Gestamp Tallent Limited
- Glen Dimplex Home Appliances Ltd.
- Gooch and Housego (Torquay) Ltd
- GT Energy UK Limited
- Hayward Tyler Limited (HTL)
- Huntsman Polyurethanes (UK) Ltd
- HydraForce Hydraulics Ltd
- Hydram Engineering Limited
- JDR Cable Systems Limited
- Johnson Matthey Davy Technologies Limited (JM Davy)
- KEWS Kent Woodland Employment Scheme
- Let’s Grow
- Lincolnshire Chamber of Commerce & Industry
- Maier UK Ltd
- Millbrook Proving Ground Limited
- MTCE Ltd
- Nice-Pak International Ltd
- North Devon+
- North West Logistics Limited (“NWL”)
- Really Useful Products Limited
- Reckitt Benckiser (Brands) Limited
- Redx Pharma Ltd
- Sense and Sense International
- SPP Pumps Limited
- Staffordshire Chambers of Commerce
- The Royal Bank of Scotland Group plc
- Tinsley Special Products Limited
- TRW Systems Ltd
- UK Steel Enterprise Ltd
- Unilever UK Central Resources Limited
- University of Derby