Job creation is at the heart of the Regional Growth Fund, says Lord Heseltine
Business leaders from across the region gathered at Loughborough University Science and Enterprise Park today (14 October), as Lord Heseltine announced the latest round of the Regional Growth Fund (RGF).
The RGF is a £3.2 billion fund that supports projects and programmes that are using private sector investment to create economic growth and sustainable employment.
In the first four rounds of the RGF, a total of £2.6 billion has been awarded to over 400 projects and programmes, which will create and safeguard hundreds of thousands of jobs over the long-term and stimulate £14.7 billion of private sector investment. In this latest round, up to £300 million will be available to bidders.
The event in Loughborough to mark the launch of round five is one of a series of road shows and expression of interest days being held around the country to provide organisations with advice on how to make a successful bid.
Welcoming Lord Heseltine and the gathered business leaders to the University, Vice Chancellor Professor Robert Allison said Loughborough has a strong track record of working in partnership with business.
“We have long-standing collaborative links with companies of all sizes, from SMEs to large multinationals,” he said.
“Loughborough is renowned for the relevance of its work, which is driven by organisations’ need for solutions to real-world problems. As such we contribute at the very highest levels to new knowledge and understanding, helping business and industry to compete more effectively.”
Professor Steve Rothberg, Pro Vice Chancellor for Enterprise, added that it was fitting that the launch of the RGF had been held on the Loughborough University Science and Enterprise Park.
“Earlier this year we announced ambitious development plans for the Park, which will provide expansion opportunities for growing local businesses and will attract national and international inward investment. When fully developed the Park will house businesses employing as many as 6,000 people, about 4,000 of which could be new jobs.
“The expansion of the Park will help to provide a long term boost for the local economy and secure Loughborough’s future as a centre for knowledge based high growth industry.”