Clegg unlocks more cash to help businesses
As part of the Regional Growth Fund, Deputy Prime Minister Nick Clegg has announced a £350 million cash pot that will create new jobs and boost the trades.
The Regional Growth Fund is a £2.6 billion fund operating across England from 2011 to 2016. It supports projects and programmes that lever private sector investment to create economic growth and sustainable employment.
The first three rounds will leverage over £13 billion of private sector investment and create or safeguard over 500,000 jobs.
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 Secretary Vince Cable said: “The additional £350 million for the Regional Growth Fund is a big boost for those parts of the country facing structural problems.
“The fund has already supported a variety of industries – from motor vehicles to life sciences. This goes hand in hand with our industrial strategy.
“But it’s not just about big industry and household names. To date we have supported over a thousand SMEs through Regional Growth Fund programmes which is giving small business the impetus to expand, employ more staff or start exporting.
“This is the Government’s commitment to growth in action to encourage investment and lead to a more balanced economy.”
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Posted on January 17, 2013, in Building Construction Industry, Building Engineering Sector, Business, Career change, Construction, construction jobs, construction news, electrician jobs, Employment, Government, Infrastructure, jobs, plumbing, plumbing jobs, Politics, Property maintenance busines, t4ts, Trades, train4tradeskills, Train4TradeSkills News, UK Economy and tagged 4, £350 million investment, businesses, Deputy Prime Minister Nick Clegg, Deputy Prime Minister of the United Kingdom, Employment, Funding, Investment, new jobs, news, politics, regional growth fund, Secretary of State for Business Innovation and Skills, skills, t4ts, trade, trades, train, train4tradeskills, UK Government, Vince Cable. Bookmark the permalink. Leave a comment.