Greater Birmingham LEP urges SMEs to bid for RGF cash
BUSINESS leaders in the West Midlands have welcomed the Government’s launch of the latest phase of the Regional Growth Fund.
The region has benefited considerably from previous settlements and hopes are high this pattern will be repeated in the fourth round.
Andy Street, chair of the Greater Birmingham and Solihull Local Enterprise Partnership, said the announcement by Deputy Prime Minister Nick Clegg that £350m was being made available would hopefully encourage firms in the LEP area to submit bids.
Bids which promise growth and job creation are seen as the ones most likely to be successful.
“We would urge larger companies in the Greater Birmingham & Solihull LEP area to come forward if they have plans for growth,” said Mr Street.
“To date, the LEP has been successful in terms of tapping into RGF, having secured the investment for the £125m Advanced Manufacturing Supply Chain Initiative, support for Zytek in Lichfield and £20m for the Green Bridge programme which is currently being developed.
“Importantly, RGF support was critical to the expansion plans at Jaguar Land Rover, which is helping to create 800 jobs. It is this leveraging of private sector investment which is helping major business growth projects in the LEP and we are keen to do everything we can to support businesses that are making applications.”
He said even though the minimum application is for £1m, there was scope for SMEs to bid as part of consortia or through one of the LEP-driven programmes.
“We would ask them to get in contact if they have suitable plans,” added Mr Street.
Richard Halstead, Midlands Region Director at EEF, the manufacturers’ organisation, said the announcement was a welcome sign the government remained committed to helping businesses in the Midlands invest and create jobs.
“However, with the economy remaining sluggish, time is of the essence. The money must make its way more quickly into projects than it did in previous rounds of the scheme when red tape seemed to slow the process down,” he said.
Mr Clegg said: “The RGF 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. 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. That is why I am so pleased to be opening a fourth round of the Regional Growth Fund which supports growth across a range of industries.”
