The third round of Regional Growth Fund bidding officially opened today, with £1bn available to businesses creating jobs and growth.
Deputy Prime Minister Nick Clegg will announce the latest round of funds at the Government's National Manufacturing Summit being held at the Bristol and Bath Science Park today.
He is also set to confirm that 48 of the successful firms from the first two rounds of the fund have completed their legal checks and have access to the Government fund.
These include Wigan council's food manufacturing sector programme. The support from RGF will be used for new machinery and premises to improve the production process of companies including C&C Baseline, which £75,000 along with £260,000 of private investment. Ronfell was awarded £64,000 from the RGF, £271,000 private investment and will relocate to larger premises in order to expand research and development facilities.
Clegg said: "The Regional Growth Fund is already having a huge impact across the UK. So far there have been over 170 successful bids to the fund, leveraging around £7.5bn of private sector investment and set to create and protect 330,000 jobs. I want to see more businesses that are confident they can create jobs and get Britain building and making things again, coming forward – making sure their hats are in the ring."
The deadline for bids is 13 June 2012.
- For more information on the criteria and how to bid, visit www.bis.gov.uk/rgf