The Regional Growth Fund (RGF) is open to businesses looking to grow and create local jobs. Image courtesy of: sxc.hu
Commenting on the upcoming announcement by Nick Clegg on the opening of the third round of applications for the Regional Growth Fund, Dr Adam Marshall, Director of Policy at the
British Chambers of Commerce, outlined his organisation’s support.
Deputy Prime Minister Nick Clegg will today announce an extra £1bn will be added to the
Regional Growth Fund (RGF), which helps businesses create new jobs and achieve growth. The fund will then stand at £2.4bn.
Businesses and public/private partnerships eligible for RGF funds must have ambitions to create new jobs within their local community, and also impact the local economy.
Clegg will make the announcement later today (February 23) at the Government’s
National Manufacturing Summit being held at the Bristol & Bath Science Park.
Regarding the announcement, Marshall said: “We welcome the extra £1bn that the government is making available to help improve the business environment in the English regions. We know that business is good for local communities because it creates jobs and prosperity. Allocations from the fund will help improve local conditions and clear the way for more private investment to follow.
“We are encouraged that ministers have committed to addressing some of the criticism that arose during previous bidding rounds, such as the complexity of the application process itself. We will watch carefully to ensure that strong applications do not get caught up in red tape or unnecessary delays.
“Over the coming weeks, the government must go further to improve the business environment, and to encourage companies to invest. As we approach the Budget, ministers must follow through on the delivery of key infrastructure projects, and do everything they can to help companies in all parts of the country build the confidence they need to expand, invest and create jobs.”
The British Chambers of Commerce (BCC) is the national voice of local business, and sits at the heart of a nationwide network of accredited Chambers of Commerce, which together serve over 100,000 businesses across the UK.