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Monday, 24 November 2014

Deputy PM urges businesses to bid for cash

BUSINESSES in Cumbria are being urged by deputy prime minister Nick Clegg to bid for a slice of £350m of public money to help boost jobs and growth.

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NICK CLEGG

The cash is available in the latest round of the £2.6bn Regional Growth Fund, which is designed to attract private investment in sustainable employment in England.

A total of 350 projects, supporting or creating 500,000 jobs, have made successful bids during the first three rounds of the fund, including James Cropper in South Cumbria. The first three rounds allocated £2.4bn which will leverage over £13bn of private sector investment and create or safeguard over 500,000 jobs.

“The Regional Growth Fund is already proving a shrewd investment by providing a welcome boost to jobs and growth across the country, with thousands of jobs created, businesses expanding into new markets and manufacturing new products,” Mr Clegg said.

“With this next round of funding, I would urge England’s budding businesses to produce top quality bids to access the money that can help them grow.

“There’ll be stiff competition, and we can only invest in those projects that will lead to sustainable jobs and the best value for money. Boosting jobs and growth is our number one priority for Britain right now.”

Bids for money from the fund, which is now in its fourth round, must be able to attract substantial match-funding from the private sector and has a minimum bid threshold of £1m.

An expression of interest meeting, which will give applicants from the North West the opportunity to discuss their bid with the RGF team, will be held in Manchester on January 31. Visit www.bis.gsi.gov.uk for more information.

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