Black Country firms urged to bid for RGF cash

BLACK COUNTRY firms have been urged by the area’s Local Enterprise Partnership to ensure they do not miss out on the chance to share in the latest phase of the Government’s Regional Growth Fund.

The Government has pledged a further £1bn to the RGF, raising the fund to £2.4bn over the next three years.

The fund is designed to stimulate economic growth and applications for projects which create private sector jobs are likely to receive a favourable hearing.

Applications for phase three of the fund close on June 13 and the LEP said businesses should get their bids in as soon as possible.

Black Country companies have successfully applied for a total of £9.6m from previous rounds of the fund. This money will be used to expand business operations, with a further £54.7m of investment provided by the companies themselves. The projects will create and safeguard 700 jobs.

The LEP, which is made up of private sector members as well as the four Black Country councils has joined with the Manufacturing Advisory Service and Black Country Chamber of Commerce to maximise support for local companies.

Organisations are being directed to LEP website at www.blackcountrylep.co.uk to download a RGF fact sheet which contains further details of the eligibility criteria of the fund and provides the contact details of the Black Country RGF team.

Stewart Towe, chair of the Black Country LEP, said: “The RGF presents another fantastic opportunity for Black Country Businesses to bid into a fund that could bring forward their growth plans. This growth will provide job opportunities for the people of the Black Country and improve the Black Country as a place to do business.”

The RGF aims to stimulate private sector investment by providing support for projects that offer significant potential for long-term economic growth and the creation of private sector jobs.

Bids are competitive and must be made for a minimum of £1m unless the application is part of a package of projects.