Regional Growth Fund reaches second bidding round

Plans announced by the Deputy Prime Minister to invest £450m in businesses across England are expected to create more than 100,000 jobs.

The first round of the Regional Growth Fund (RGF) will see an expanded amount of public investment support 50 bids by companies and partnerships who demonstrated how they would create jobs and a high level of private-sector-led sustainable economic growth in their local communities over the coming years.

The government expects more than 27,000 jobs to be directly created and safeguarded, with close to a further 100,000 jobs in associated supply chains and local economies.

The second round of the fund, which will aim to allocate the remainder of the fund (nearly £1bn), has now been opened to bids.