SELECTED projects and programmes for the fourth round of the Government’s Regional Growth Fund (RGF) will be announced today by the Deputy Prime Minister, Nick Clegg.

He will say that 102 companies and projects that applied for funding have been successful, following the most competitive round of the Fund so far.

The companies will take a share of a £506 million pot of funding to attract significant private sector investment and create thousands of jobs across the country.

The half a billion pounds of investment is intended to help to rebalance the economy by supporting the 102 different projects and programmes from all sectors, small businesses and local partnerships across England.

It is aimed at helping them to expand their operations, create new jobs and stimulate private sector growth - the Government’s top priority.

Visiting Toyota in Derbyshire - one of the companies that will receive a share of the money - the Deputy Prime Minister will say: “There are more people in work today than ever before - since 2010 we have helped create 1.3 million jobs in the private sector.

“That’s what the Regional Growth Fund is all about and I’m extremely proud to have found extra money to invest in projects across the country that have plans for the future and want to recruit local talent that will make their businesses better.

“The Regional Growth Fund is exactly what this country needs to go for growth - from family-run Cartwright Group in Manchester, who are now expanding to create 300 jobs and train up to 30 apprentices every year for the next three years, to Toyota, who will use the money to help increase their ability to develop and produce new generations of Toyota cars right here in the UK, securing jobs and creating opportunities for the future.”

The different projects and programmes from this round will leverage £2.8 billion of additional private sector investment with the aim of creating or safeguarding 77,000 jobs. When added to the first three rounds, it represents a total of £15 billion private sector investment.

Roger Salomone, head of business environment at EEF, said: “The Regional Growth Fund has played a vital role unlocking a significant amount of private sector investment around the country, supporting businesses and promoting growth.

“The latest wave of investment is testament to the fund’s continued importance and the Government’s commitment to extend it to 2017 is particularly welcome.

“With significant new funding for organisations such as Local Enterprise Partnerships coming on stream, we would like to see future regional growth funds focus on supporting business-led projects."

West Midlands list of bidders with conditional offers:

  • GBS Mezzanine Funding Programme (Birmingham City Council Programme)
  • Coventry and Warwickshire Business Finance (Coventry and Warwickshire LEP - Programme)
  • The Marches and Worcestershire Redundant Building Grant Programme (Herefordshire Council - Programme)
  • Jaguar Land Rover Ltd
  • King Automotive Systems Ltd
  • Malvern Instruments Ltd
  • NVC Lighting Ltd
  • Robinson Brothers Ltd
  • Growing Priority Sectors in the Black Country (Sandwell MBC - Programme)
  • Innovative Growth in Stoke on Trent and Staffordshire (Stoke on Trent City Council - Programme)
  • Tata Steel UK Ltd TRW Automotive - College Road
  • Wade Ceramics Limited
  • Worcestershire Expansion Fund (Worcestershire County Council - Programme)