UK manufacturers benefit from £300m RGF funding
1 min read
The fifth round of the government's Regional Growth Fund (RGF) worth £300 million is to go to 50 companies around the UK.
Bidders benefiting from the latest RGF round include Aston Martin Lagonda, Cummins, Dyson Technology, Gestamp Tallent, Glen Dimplex Home Appliances, Hydram Engineering, JDR Cable Systems, SPP Pumps, and Tinsley Special Products. A full list can be found by clicking the link at the end of this article.
Business secretary Vince Cable (pictured) said, "Our industrial strategy is creating stable foundations for a sustainable, long-term recovery in which opportunity and growth is fairly spread across the country.
"The RGF will help increase our exports, expand our capacity for innovation and drive up the quality and range of our skills base and supply chain.
"The awards... see every £1 of government funding leveraging in £6 of private capital. They will support sectors from aerospace and automotive to tourism, and the benefits will be felt into the mid 2020s and beyond."
With the sixth and last RGF round taking place later in the year, business minister Michael Fallon urged companies to put their names forward. He said: "I'd strongly encourage any firms that can generate significant private sector investment and sustainable jobs to bid for a share of the next round we're launching this summer."
