The Regional Growth Fund (RGF), established by Deputy Prime Minister, Nick Clegg has now supported more than 8,000 small businesses to grow and thrive throughout England since 2010.
A series of 400 projects and programmes has underpinned this scheme which, to date, has created and safeguarded 100,000 jobs and distributed over £1 billion across the country.
Mr Clegg has confirmed for the first time the total number of projects and programmes currently underway as a result of the RGF.
To date, there are:
94 projects and programmes underway in the North East of England
73 in the North West of England
48 in Yorkshire and Humber
28 in the South East of England and London
36 in the South West of England
61 in the West Midlands
11 in the East of England
25 in the East Midlands
A further 25 that are nationwide in scope
In a bid to buoy engineering and manufacturing industries and encourage job creation nationwide – not just in London – the RGF has supported companies across a range of sectors.
Such firms include Bristol-based pioneers in tidal turbines to a laboratory in Cheshire developing new drugs to combat cancer and resistant bacteria.
Mr Clegg enthused about the scheme and its success in providing funds to enable a wide range of businesses to grow up and down the country.
“It is great news that the Regional Growth Fund has now reached the landmark of supporting its 8,000th company,” said Clegg.
“This innovative fund is helping companies to invest, expand and to create sustainable jobs in the local community.
“Rebalancing the economy and boosting regional growth has been a top priority for me in Government. It is a key part of building a stronger economy and fairer society.
“The success of the Regional Growth Fund is a shining example of how government can help regional businesses realise their own goals and plan for a prosperous future.”