Regional growth fund launched

FUNDS: Nick Clegg
FUNDS: Nick Clegg
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Businesses in Lancashire are being encouraged to bid for a share of a £300m cash pot.

A new round of the Regional Growth Fund opens today and Deputy Prime Minister Nick Clegg called on businesses across the country to bid for the money.

So far £2.6bn 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 £14.7bn of private sector investment.

Round five will be open to private sector bidders seeking £1m or more. The government is calling for companies planning high quality projects that will generate significant private sector investment and sustainable jobs.

Deputy Prime Minister Nick Clegg said: “This fund has so far helped over 400 projects and over 3,000 SMEs across the country to boost our economy - expanding, improving, innovating and helping secure our economic recovery. “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.

“Home-grown and British-based businesses are leading that charge for a stronger economy.

“The Regional Growth Fund is a helping hand from the government, but I pay tribute to the people who are working hard to fuel our recovery.

Sessions to help people with their bids will be held on November 13 at Liverpool John Moores University and November 22 at the Arndale Centre in Manchester.

Businesses will be able to submit their bids until December 9.