South East and London bid for 44m from RGF
Fri, 17th October 2014

South East and London bid for £44m from RGF

Companies in the South East and London are seeking more than £40m of funding from the sixth round of the government's flagship economic stimulus the Regional Growth Fund (RGF).

The latest round closed at the end of September and 13 bids have now been received from the region for £44m of support.

Nationally, 174 bids seeking £800m of cash have been made.

Round six is open to private sector bidders looking for £1m or more and has £200m of investment available to businesses.

The news came as minister for communities Stephen Williams visited Fianium to see progress first-hand of the company’s £7.6m expansion project at its site in Hamble, Southampton.

Fianium, which develops and manufactures ultrafast lasers, was awarded £1.13m through the RGF.

The investment is enabling the business to bring 100 new jobs to Southampton.

So far £170m of RGF money has been invested in businesses across the South East, helping to create 42,000 new jobs as companies have committed to investing an additional £1.1bn.

category South East  |  source Insider Media