A new round of the Regional Growth Fund opens today as the Deputy Prime Minister Nick Clegg called on businesses across the country to bid for a share of the £300 million cash pot.
To help bidders with their applications, road shows and expression of interest days will be held throughout the country, including in Loughborough on Monday, October 14, where D2N2 chairman Peter Richardson will be in attendance along with Lord Heseltine.
So far £2.6 billion from the first four rounds of the Regional Growth Fund has supported over 400 projects and programmes, which will create and safeguard hundreds of thousands of jobs over the long-term and stimulate £14.7 billion of private sector investment in the UK.
Round Five will be open to private sector bidders seeking £1 million or more. The government is calling for companies planning high-quality projects that will generate significant private sector investment and sustainable jobs. Businesses will be able to submit their bids until noon on 9 December.
Deputy Prime Minister Nick Clegg said: “The economic recovery is starting to bloom – we’re seeing very encouraging signs that we are turning a crucial corner on our road to recovery.
“My message to businesses in every region is clear – if you’ve got a project that needs a boost, bid for cash from the Regional Growth Fund.”
D2N2 Local Enterprise Partnership Chief Executive David Ralph said the LEP will wholeheartedly support businesses to help the private sector in Derbyshire and Nottinghamshire win successful grants from Round Five of the Government’s Regional Growth Fund.
And for those seeking lower grants, he pointed them in the direction of D2N2’s own RGF programme, Unlocking Investment for Growth, for support.
He said: “Round Five of RGF will be focused on private enterprise proposals, with high-quality projects that can generate significant private sector investment and create sustainable jobs with a minimum grant bid of £1m.
“D2N2 companies have a good track record in securing funding from previous rounds and we would encourage businesses in our area that can benefit from RGF Round Five to express an interest and apply and we will wholeheartedly support them in any way we can to help bring those applications to a successful conclusion.
“For the smaller and medium-sized companies in the D2N2 area, our UI4G programme will provide grants in support of capital investment projects with a minimum overall project value of £200,000. In exceptional circumstances up to £500,000 of grant funding is available for projects that can demonstrate real potential to create new jobs.”
For more information about round five which closes on December 9, go to ‘Understanding the Regional Growth Fund’ or email growthfund@bis.gsi.gov.uk
To express an interest in D2N2’s UI4G programme or for more information, visit www.d2n2lep.org/UI4G
