£23m RGF boost for North West businesses
Seven North West companies have won a share of a £23m pot in the fifth round of the Regional Growth Fund.
The Government believes that its initial investment will lead to a further £140m of private sector investment within the next decade.
A total of £300m was available for companies across the UK.
The successful bidders in the North West are:
- Absynth Biologics at Alderley Park, Cheshire
- Glen Dimplex Home Appliances, Knowsley
- GT Energy UK, Manchester
- Nice-Pak International, Wigan
- North West Logistics in Hyndburn
- Redx Pharma in Liverpool
- Unilever UK Central Resources in Port Sunlight
Redx Pharma will create a new pharmaceutical research and development centre for metabolic disease alongside its existing facilities for cancer and infection.
North West Logistics, which provides storage and transport services to a range of blue-chip companies across Europe, will build a new facility to expand its specialist hazardous product division.
GT Energy will use the funds to progress its geothermal scheme at Devonshire Street in Manchester.
Glen Dimplex is planning to increase its manufacturing commitment in Merseyside for brands such as Stoves, Belling and New World, and develop medical refrigeration appliances.
Absynth Biologics will use the funding for the next phases of its research and development activity in developing vaccines to treat bacterial infections.
Unilever will use the funding to grow its product design capabilities in Port Sunlight, working closely with the University of Liverpool, University of Manchester and Sci-Tech Daresbury.
Deputy Prime Minister Nick Clegg will today be visiting two of the companies supported by the RGF, Glen Dimplex and Round 4 beneficiary Tratos.
Total RGF support in the North West from Round 1 to 5 has totalled £420m across 79 projects and programmes.
Round 6 of the RGF will open for applications in the summer.