Regional Growth Fund

Michael Fallon Excerpts

Thursday 10th April 2014 Written Statements

[The Minister of State, Department for Business, Innovation and Skills (Michael Fallon)]

Today my right hon. Friend the Deputy Prime Minister will announce that 50 projects and programmes have been awarded a total of £300 million in round 5 of the regional growth fund (RGF).

This support will help an increasing number of companies to invest in long-term job creation in communities where the need is greatest, and bring in £1.9 billion in private investment. I am publishing a list of all 50 projects and programmes that have been selected for support in round 5 at annex A.

In the June 2013 spending round allocation, announced by the Chancellor of the Exchequer, the Government announced a further £600 million to be available for bids in rounds 5 and 6 of the RGF, bringing the fund total to £3.2 billion. Of this £600 million, £100 million was passed to the local growth fund which will support local enterprise partnership (LEP) initiatives from 2015-16. The remaining £500 million is available to fund rounds 5 and 6. The application window for round 5 ran from October to December 2013 and the fund appraised 129 bids seeking a total of £650 million. Unlike previous rounds, following the creation of the local growth fund for LEPs, round 5 was only open to private sector-led bids.

Since the start of the RGF over £1.5 billion has been made available to SMEs in England through RGF-supported programmes. Further details on how the RGF helps support SMEs can be found here:

https://www.gov.uk/regional-growth-fund-a-guide-for-small-and-medium-enterprises-smes

Round 6 of the RGF will continue to help secure private sector investment and job creation when it opens to bids in the summer of 2014.

Annex A—list of selected bidders in round 5

East Midlands

Dalepak Ltd

Lincolnshire Chamber of Commerce and Industry

University of Derby

East of England

Hayward Tyler Ltd (HTL)

Millbrook Proving Ground Ltd

Nationwide

Avanti Communications Group plc

Close Brothers Ltd

Compass Business Finance Ltd

Finance For Industry Ltd

The Royal Bank of Scotland Group plc

North East

Cleveland Potash Ltd (CPL)

Cummins Ltd

Fine Industries Ltd

Gestamp Tallent Ltd

Huntsman Polyurethanes (UK) Ltd

Hydram Engineering Ltd

JDR Cable Systems Ltd

Johnson Matthey Davy Technologies Ltd (JM Davy)

Let’s Grow

Tinsley Special Products Ltd

TRW Systems Ltd

North West

Absynth Biologies Ltd

Glen Dimplex Home Appliances Ltd

GT Energy UK Ltd

Nice-Pak International Ltd

North West Logistics Ltd (“NWL”)

Redx Pharma Ltd

Unilever UK Central Resources Ltd

South East and London

Elekta Ltd

Farnborough International Ltd (FIL)

KEWS Kent Woodland Employment Scheme

South West

Becton Dickinson UK Ltd

Cornwall Marine Network Ltd

Dyson Technology Ltd

Fine Tubes Ltd

Gooch and Housego (Torquay) Ltd

North Devon+

SPP Pumps Ltd

West Midlands

Aston Martin Lagonda Ltd

Bournville College/Trinity Mirror Midands

HydraForce Hydraulics Ltd

Maier UK Ltd

MTCE Ltd

Sense and Sense International

Sertec

Staffordshire Chambers of Commerce

Yorkshire and the Humber

Anglia Metal Ltd

Really Useful Products Ltd

Reckitt Benckiser (Brands)

Ltd UK Steel Enterprise Ltd