Regional Growth Fund Round 2
On October 31 2011, the Department for Business Innovation and Skills (BIS) announced 119 projects had been successful in Round 2 of the Regional Growth Fund. Discussions are ongoing with a further ten bidders about their projects. In total, over 490 bids were received totalling £3.3 billion.
Round 2 conditional allocations will total £950 million nationally – which is the remaining allocation from the £1.4 billion fund. It is expected that the investment will support nearly £6 billion of private sector investment and create or protect 201,000 jobs.
Additionally, around 37,000 will be directly created jobs and more than 164,000 will be in the supply chain and local economies.
In the GBSLEP, four projects received a conditional allocation, including two cross-LEP bids:
- Birmingham Post, Birmingham - Cross LEP - £5 million
- Zytek Automotive Ltd, Lichfield - £1.35 million
- Advanced Engineering Supply Chain Initiative - (a cross-LEP bid by GBSLEP, Coventry & Warwickshire, Black Country, Liverpool) - £25 million
- Creative England (national) - £5 million
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