Government reveals £950m regional fund winners

Rebecca Seales

Source: pmorgan

Government claims second tranche of Regional Growth Fund will create 201,000 jobs

JCB, Keepmoat Homes and Pochin Developments are among 119 firms to win funding support from the Government’s £950m Regional Growth Fund, it was announced today.

This is the second round of funding allocated by the Coalition, and is intended to help local businesses grow and develop.

According to the Department for Business, Innovation and Skills, the investment will create or protect 201,000 jobs, with around 37,000 directly created jobs. More than 164,000 roles will be in the supply chain.

The Government intends the funding to support £6bn of private investment secured by the successful applicants.

Deputy Prime Minister Nick Clegg said: “This targeted support for businesses across the country allows them to expand and create jobs.

“It unlocks private sector investment - with at least £5 put in for every £1 of public money. People in the rest of Britain have been let down for far too long by governments in thrall to one Square Mile of it.

“The first pot of Regional Growth Fund money is already making a difference across the country - helping to rebalance our economy so that every region and sector benefits.”

The announcement comes on the day David Cameron pledged to support an “all-out mission” to kick-start major infrastructure projects, in an attempt to boost jobs and growth.

The full list of winning bidders:

East Midlands and South East Midlands: 1,400 direct jobs, 7,800 indirect jobs

North East: 8,500 direct jobs, 17,000 indirect jobs

North West: 7,800 direct jobs, 39,500 indirect jobs

South East: 7,400 direct jobs, 22,300 indirect jobs

South West: 5300 direct jobs, 17,600 indirect jobs

West Midlands: 3,900 direct jobs, 29,800 indirect jobs.

Yorkshire & Humber: 3,000 direct jobs, 13,700 indirect jobs

Other bids – national: 200 direct jobs, 16,500 indirect jobs

 

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