Government's Regional Growth Fund opens for £1m business project bids

Applicants will also be required to secure finance from private sector channels to match-fund a least half of any RGF sum awarded.

Deputy Prime Minister Nick Clegg said the scheme had so far provided £2.6bn worth of support for more than 400 projects and was expected to stimulate around £14.7bn of private sector investment.

‘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. Homegrown and British-based businesses are leading that charge for a stronger economy,’ he said.

‘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. My message to businesses in every region is clear – if you’ve got a project that needs a boost, bid for cash from the Regional Growth Fund.’

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