Regional growth fund
Round two of Regional Growth Fund is now closed
The Regional Growth Fund (RGF) aims to 'create the conditions for growth and enterprise in the regions by stimulating investment and create substantial private sector jobs.' A total of £1.4bn over three years is available.
The RGF has two objectives:
- To encourage private sector enterprise, by providing support for projects with significant potential for economic growth and create additional sustainable private sector employment.
- To support, in particular those areas and communities that are currently dependent on the public sector make the transition to sustainable private sector led growth and prosperity.
Round one closed on 21 January 2011 with the successful bidders announced on 12 April 2011. Out of some 50 bids, the south west had four successes, one of them from Plymouth. For information about Round 1 visit the Business Innovation and Skills (BIS) website.
Round two closed on 1 July 2011. A number of projects were submitted by businesses in and around Plymouth and the outcomes are currently awaited.
It is anticipated that there will be a very limited Round three of RGF sometime in 2012. As details become available, they will be available here.
More information about RGF, including the application forms and guidance, are available on the Business Innovation and Skills (BIS) website or contact the Economic Development Co-ordinator on 01752 304885.