Regional Growth Fund
About the Regional Growth Fund
The Regional Growth Fund (RGF) is a Government challenge fund of £2.4 billion running between 2011 and 2015 to encourage private sector growth and new jobs, particularly in areas and communities currently dependent on the public sector. Bids are for a MINIMUM of £1 million.
All projects are expected to lever private sector investment for long-term growth and private sector employment.
Successful bids must demonstrate that they:
- Create additional sustainable private sector growth
- Rebalance the economy in those areas currently dependent on the public sector
- Would not otherwise go ahead without support from the Regional Growth Fund
- Offer value for money; and
- Are state aid compliant.
To date there have been four rounds of allocations of the RGF with the results of the fourth round announced in August 2013. Regional Growth Fund Round Five will open for bids in October 2013.
While submissions have to be made to the Department of Business, Innovation and Skills, many of the successful bids have been supported by the LEP. To find out if your project – which must be worth more than £1 million and meet the criteria above – is likely to be successful, contact Debbie Harris, Principal Economic Development officer via firstname.lastname@example.org for further information.