South West bids for 109m in RGF round six
Fri, 17th October 2014

South West bids for £109m in RGF round six

Businesses across the South West are seeking £109m from the latest round of the Regional Growth Fund (RGF), government statistics have revealed.

A total of 32 applications were submitted to the fund from companies across the region seeking capital to support projects, expansion and job creation. The bids total £109m, the third highest of any English region.

The West Midlands is aiming to secure the highest amount of funding with 28 applications totalling £113m, with the North West lodging 40 bids for £149m.

Across England, 174 applications were lodged seeking a total of £817m, an increase on the fifth round's 133 bids for £644.2m, which were revealed in January.

In April, the fund invested £18m in seven projects across the South West, with Dyson, Gooch & Housego and Cornwall Marine Network emerging as the big winners.

The RGF is a £3.2bn fund designed to help companies create jobs between now and the mid-2020s. Payment of the cash is spread between 2011 and 2017.

category South West  |  source Insider Media