Extra £1billion for businesses from Government for Regional Growth Fund

Feb. 29, 2012 - PRLog -- At the recent National Manufacturing Summit hosted by the Government in the Bristol and Bath Science Park, Deputy Prime Minister Nick Clegg announced a further £1billion of Regional Growth Funding (RGF) available to businesses and public/private partnerships hoping to create new jobs and make a significant impact on their local economies.

Businesses have until 13th June to apply for their share of this £1billion fund. Bids for funding from private bodies and public-private partnerships across England on a challenge basis are welcomed; however, the minimum amount of grant that can be applied for is £1 million. The fund is aimed at businesses that need funding to develop but cannot proceed without public sector support.

The Humber LEP is encouraging companies in the Humber sub-region to look at the RGF as a source of funding, and those thinking of submitting an Expression of Interest are welcome to get in touch with the LEP. It would also be more than useful for the Humber LEP to be informed of any potential applications so as to assess the range of bid types being submitted. The Humber LEP will also help refer them to the correct Local Authority who will provide free support for any applications.

Those thinking of submitting a bid can obtain assistance by attending a regional Expression of Interest meeting being held in York on 20th March, although it is not a pre-requisite that you attend the meeting if you are thinking of making a bid.

To date, the fund has had a significant impact across the UK, with over 170 successful bids attracting £7.5billion of private sector investment, and most importantly, helping to create and safeguard over 330,000 jobs.

Lord Haskins, Chair of the Humber LEP said:

“Once again, businesses in the Humber sub-region have the ideal opportunity to transform their ideas about business improvement and employment generation into a reality.

“I urge anyone who has been thinking about applying for Regional Growth Funding to convert those thoughts into actions now to ensure they are in with a fighting chance.”

To contact the LEP to inform them that you intend to bid, please email info@humberlep.org or telephone 01482 611 890.

Further details on the RGF can be found on the relevant pages at www.bis.gov.uk/policies/economic-development, and information on booking an Expression of Interest meeting can be obtained from 020 7215 6758 / 0207 215 3821 or growthfund@bis.gsi.gov.uk (please mention you are from the Humber region).