Regional Growth Fund announced

The Government is to invest £950 million to support growth in a move which will create or safeguard more than 200,000 jobs across England, Deputy Prime Minister Nick Clegg announced today.

By The Newsroom

Published 31st Oct 2011, 10:10 BST

The second round of the Government’s £1.4 billion regional growth fund will support 119 bids from businesses and local partnerships with projects to expand their operations, create new jobs and attract private investment, said Mr Clegg.

The projects will directly create around 37,000 jobs, while 164,000 more will be created or protected in the supply chain, he said.

The Government investment is expected to support nearly £6 billion of private investment in the successful projects, said the Deputy Prime Minister.

Speaking in Rotherham, South Yorkshire, Mr Clegg said: “I am delighted to be able to announce this boost to business, which will jump-start growth and create jobs that last in the places that really need it.

“This targeted support for businesses across the country allows them to expand and create jobs.

“It unlocks private sector investment - with at least £5 put in for every £1 of public money