Monday, March 5, 2012

News: Regional Growth Fund round three launched


Local companies are being given the opportunity to find out how to access the government's £2.4 billion Regional Growth Fund (RGF).

The RGF is the government's main source of funding for economic development and regeneration. At the 2011 Autumn Statement, the Chancellor announced a further £1 billion for the RGF, which will be extended into 2014-15.

The aims of the fund remain the same: creating jobs, encouraging private investment and supporting areas dependent on the public sector.

The third round of funding is now open and the Sheffield City Region Local Enterprise Partnership (LEP) will be supporting organisations with suitable projects to access the fund.

Suitable short to medium term projects must create additional sustainable private sector jobs and growth; would not otherwise go ahead without support from the RGF; offer value for money and leverage private sector investment; are state aid compliant and support the strategic development of the participating business.

Local companies are being invited to three roadshows taking place next week where the partnership will capture interest from businesses with investment plans.

The Source @ Meadowhall is hosting an event on March 13.

A £20.5m training centre for advanced manufacturing is set to be built in Rotherham after the University of Sheffield was awarded £9.2m from the second round of RGF.

Based in a new 5,000 sq m building, to be situated close to the Advanced Manufacturing Research Centre with Boeing (AMRC) and the Nuclear AMRC on the Advanced Manufacturing Park, the centre will provide training for companies along the supply chain in high-value manufacturing sectors.

Rotherham Investment and Development Office
Sheffield City Region website


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