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Thursday, 02 October 2014

Deadline looming for Cumbrian firms to apply for growth cash

Time is running out for Cumbrian businesses to apply for grants from the Government’s Regional Growth Fund.

The fund operates across England from 2011 to 2016 and forms a central plank of the Coalition’s strategy to regenerate the regions. It supports projects that lever in private investment to create jobs and boost growth.

Some £2.6 billion was released in the first four rounds, supporting 400 projects to create or safeguard thousands of jobs and stimulate £14.7bn of private investment.

Pirelli in Carlisle and Pentagon Chemicals in Workington were among companies receiving money. Another £300m is being released in round five.

Ministers are inviting bids of £1m or more for “high-quality projects that will generate significant private sector investment and sustainable jobs”.

The deadline for submissions is next Monday Carlisle MP John Stevenson urged businesses to apply.

He said: “The Regional Growth Fund provides an additional source of funding and I would encourage those businesses that can meet the criteria to apply.

“We need businesses to invest now so that they are well placed to take advantage of the opportunities that will come as the recovery gathers pace.”

See www.gov.uk/understanding-the-regional-growth-fund or email growthfund@bis.gsi.gov.uk

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