West Mids businesses urged to bid for £1.4bn RGF
The deputy chairman of the Regional Growth Fund (RGF) has visited the West Midlands to encourage businesses and entrepreneurs to bid for some of the £1.4bn cash pot. Sir Ian Wrigglesworth said the government wanted potential applicants to come forward with proposals which will “unleash local talent and help communities in the West Midlands to flourish”.
The event, held at Keele University in Staffordshire, was attended by more than 100 local business leaders and entrepreneurs.
Sir Ian is the deputy chairman of the Independent Advisory Panel, led by Lord Heseltine. The panel will consider all bids for funding and make recommendations to ministers about which should be successful. They will be supported by a team of academics, and business and civic leaders.
The objectives of the RGF are to stimulate enterprise by providing support for projects with potential for economic growth. The programmes which receive investment must also create “additional, sustainable private sector employment”, said the government guidelines.
RGF funding will also support areas and communities that are currently dependent on the public sector, said Sir Ian, to help ease the transition to sustainable private sector-led growth.
Sir Ian said: “I’m delighted to be here in the West Midlands as an advocate for this important fund.
“This fund is not about central government control. This is a fund that private enterprise and partners can submit bids for, to support their actions to create more jobs and economic growth in their region. I hope the roadshow will inspire local people to think strategically about how this fund can best support growth in their community.
“The Regional Growth Fund presents an opportunity for businesses and entrepreneurs in the West Midlands to help shape their own economic future.”
