The Deputy Prime Minister today opened the fourth of the Regional Growth Fund and called on businesses across the country to bid for a share of the £350 million cash pot.
The Regional Growth Fund has already helped 180 projects get started, creating and safeguarding local jobs and attracting significant private sector investment. Projects from the first three rounds have pledged to create or safeguard a total of 500,000 jobs and secured an injection of £13 billion private sector investment to the economy.
Aston Martin, Bentley, Calsonic Kansei, Lotus, Nissan, Universal Engineering and Zytec are just some of the vehicle manufacturers and automotive supply chain companies that have been successful in previous rounds of the Regional Growth Fund.
Deputy Prime Minister Nick Clegg said, “The Regional Growth Fund is already proving a shrewd investment by providing a welcome boost to jobs and growth across the country, with thousands of jobs created, businesses expanding into new markets and manufacturing new products. With this next round of funding, I would urge England’s budding businesses to produce top quality bids to access the money that can help them grow.
“There’ll be stiff competition, and we can only invest in those projects that will lead to sustainable jobs and the best value for money. Boosting jobs and growth is our number one priority for Britain right now. That is why I am so pleased to be opening a fourth round of the Regional Growth Fund, which supports growth across a range of industries.”
Business Minister Michael Fallon said, “The Regional Growth Fund is playing a pivotal role in supporting business and enterprise. Jobs are being created, money is being invested and the fund is making a difference. This additional round and the improved processes we have put in place will help keep the momentum going.”
Round 4 of the Regional Growth Fund will close to applications on 20 March at noon. Automotive companies interested in bidding should look out for expressions of interest events in their region which will provide further help and support with the application process.
Click through to find out more about submitting an application.
Upcoming events:
- North West – 31 January – Manchester
- West Midlands – 6 February – Birmingham
- Yorkshire and Humber – 19 February – Leeds
- North East – 20 February – Gateshead
- East Midlands – 25 February – Nottingham
