GBSLEP welcome RGF Round Five successes

Posted by lepadmin - April 10, 2014 - Newsroom, Regional Growth Fund - No Comments

On Thursday April 10 2014, the results of Round Five of the Regional Growth Fund were announced, with eight successful West Midlands bids worth £31m.

Among the successful conditional bids were Birmingham manufacturers Sertec and Hydraforce Hydraulics – both bids supported by the LEP – along with the continuation of a small grants scheme run by Bourneville College.

Andy Street, GBSLEP Chair.

Andy Street, GBSLEP Chair.

Andy Street, GBSLEP Chairman, said: “Partners and businesses in the GBSLEP have traditionally been successful in terms of accessing RGF investment and it is pleasing to see this continue.

“You don’t have to look far to see how RGF has benefitted Greater Birmingham.

“The soon-to-be-completed runway extension at Birmingham Airport will have a profound impact on the regional economy – a development made possible by RGF.

“RGF has also supported the ongoing growth of JLR both directly and indirectly through the Advanced Manufacturing Supply Chain Initiative.

“And we have proven money can reach businesses quickly – the £19m allocated from RGF for the Green Bridge Supply Chain Programme was fully committed to growing West Midlands companies and the scheme has been extended using European money to meet demand.

“Shortly, along with the Black Country LEP we will be launching the Mezzanine Fund using investment from the last round.

“The continued investment from RGF will help the LEP continue the trend of falling unemployment as we move towards the introduction of the Local Growth Fund next year.”

Round Six of the Regional Growth Fund will open for applications in the summer.