£1 billion Regional Growth Fund launched

A £1 billion Regional Growth Fund has been launched for areas particularly at risk of being affected by public spending cuts.

The fund, launched by Deputy Prime Minister Nick Clegg, will operate in 2011/12 and 2012/13 and will help areas most dependent on public sector employment.

Both private bodies and public-private partnerships will be able to bid or funding by demonstrating their proposal will bring in private investment and support sustainable increases in private sector jobs and growth in their area.

Clegg said: "The Regional Growth Fund will create the conditions for growth and enterprise in the regions by stimulating investment and create sustainable private sector jobs."

"This fund can make a real difference to companies during difficult times."

Further information:
Department for Business, Innovation and Skills