by Samantha Bartlett on January 17, 2013

posted on boyce recruitment updates,

More money released for businesses from the Regional Growth Fund

The government has announced that as of today (January 17th), more money is available from the Regional Growth Fund (RGF).

Deputy prime minister Nick Clegg confirmed that there is £350 million worth of cash up for grabs by businesses, which they can invest in the creation and protection of jobs in London and the rest of the UK. This will be the fourth round of the RGF scheme, planningresource.co.uk confirmed.

According to hrmagazine.co.uk, Clegg said: “The Regional Growth Fund is already proving a shrewd investment by providing a welcome boost to jobs and growth across the country, with thousands of jobs created, businesses expanding into new markets and manufacturing new products.”  

It is thought that a cash injection of £2.4 billion from the RGF has already helped 180 projects get started and has attracted significant private sector investment.

Business minister Michael Fallon also agreed that the RGF was playing a significant role in supporting businesses, saying: “The Regional Growth Fund is playing a pivotal role in supporting business and enterprise. Jobs are being created, money is being invested and the fund is making a difference.”

The government has stated that the first three rounds of the FSB provided £13 billion worth of investment to the private sector. This went towards providing and safeguarding 500,000 jobs.