£200m being made available to West Midlands business in latest phase of RGF

WEST Midlands businesses have been invited to bid for a share of a £200m pot as part of the sixth round of the Government’s Regional Growth Fund.

Around £410m is being invested in the region as part of the first five rounds in support of 63 projects. Together these have helped to create or safeguard thousands of jobs and stimulate £3.2bn of private sector investment.

Deputy Prime Minister Nick Clegg said: “The RGF is a helping hand from Government to create thousands of jobs that last, boost the private sector and rebalance the economy.

“I’ve seen first hand at businesses across the country how the fund is supporting businesses that are working hard to fuel our recovery and help us build a stronger economy.”

Round six will be open to private sector bidders seeking £1m or more. Those preparing high quality business plans capable of generating new jobs will be given priority. Firms will be able to submit their bids until midday on September 30.

Companies in the West Midlands which have already benefitted from RGF support include:

•    Stoke-on-Trent engineering group, Goodwin, which is using its £2m grant to help the 130-year-old company expand, with 147 jobs due to be created by 2020. The company is building a new facility and 75 of the 125 apprentices scheduled to be trained during the project have already been employed.

•    Bladon Jets is using its £3.1m RGF grant to fund 20 new high value research jobs at its Coventry R&D facility and to acquire specialised equipment to help with its research into micro gas turbine power generation technology.

To help bidders on their applications, road shows and expression of interest days will be held throughout the country from today to provide advice on how to make a successful bid. On July 29 an event will be held at the University of Coventry.

The fund is deliberately targeting manufacturing businesses and the sector has responded favourably to the latest announcement.

Adrian Maxwell, managing director of Birmingham coffee machine manufacturer, Fracino said exports at the firm now accounted for 28% of the firm’s turnover. Its machines are exported to 70 countries worldwide – including Italy.

“Our export success has powered the business from strength to strength and we employ 50 people. Our goal is for exports to make up 50% of our turnover by 2018,” he said.

Helen Smith, design director at Stoke-on-Trent firm, Hudsons of England, said her business was still manufacturing quality fine bone china at the same original site as when the company was founded in 1875.

“The brand name of Hudson and Middleton is universally known and highly respected for our product, which is steeped in quality, combined with innovative, market leading designs,” she said.

“The benefits of manufacturing a British-made product and selling it to our home and export markets have allowed our business to develop significantly, and expand into new markets. It has allowed substantial investment back into key areas such as product development, manufacturing efficiencies, and an expanding workforce which includes new apprenticeships.”

Kevin Oakes, chief executive of Stoke-on-Trent tableware manufacturer Steelite International said: “Steelite International’s products are exclusively manufactured in the UK. As a company, we are proud of our ‘Made in England’ back stamp which is truly valued by customers throughout the world. Not only are we are able to retain skills and create much needed employment but we can also ensure the continuity of our heritage in Stoke on Trent.”

Lorraine Holmes, Manufacturing Advisory Service (MAS) Area Director for the North and West, which covers the West Midlands said the organisation’s latest barometer suggested the industry was sustaining growth.

“Confidence continues to build in the West Midlands, with record numbers of firms looking to recruit (65%) and planning to invest in machinery and plant (71%).  We have a team of advisors engaging with companies on the ground and the overwhelming feedback we are getting is that they recognise the need to build for the future and that innovation and growth go hand in hand,” she said.