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Sheffield City Region welcomes £25m Regional Growth Fund

posted 29 Oct 2012, 04:30 by RiDO Rotherham   [ updated 29 Oct 2012, 04:34 ]
The Government last week announced that it will award £25m of Regional Growth Fund (RGF) money to the Sheffield City Region Local Enterprise Partnership (LEP).

The flagship programme called “Unlocking Business Investment” will provide over £100 million of direct business investment, leading to further private sector growth across the Sheffield City Region. The footprint of this growth will be approximately 1,800 sustainable, private sector jobs which will help businesses expand their operations and stimulate growth – including in key sectors such as advanced manufacturing. There will also be many further benefits including indirect jobs and jobs safeguarded in the region.

Welcoming the announcement, LEP Chairman James Newman, said, “This bid has been several months in planning and a lot of hard work has gone into getting it right – it brings together dozens of companies with robust plans for growth.”

The LEP bid currently comprises of 27 companies, which put forward plans for growth as part of the RGF bid. The LEP will be inviting many more businesses with plans for growth in the City Region to be part of the programme.

David Grey MBE, local businessman and LEP Board Member, said, “It is now crucial that we focus on the delivery of this ambitious programme, and we look forward to working with our partners in local and national Government and  businesses in the City Region.

“This programme will demonstrate how a small amount of funding can unlock significantly more direct private sector investment – leading to growth and sustainable, private sector employment.”

For further details on the Regional Growth Fund and how you can be part of the programme, please contact Rotherham Investment & Development Team on 01709 254444 or email info@rido.org.uk