Regional Growth Fund

10/09/2010 Yesterday was also the closing date for the consultation on the Regional Growth Fund. Announced in the Budget, the £1bn fund will provide support for projects that offer significant potential for sustainable economic growth and can create new private sector jobs. The two-year fund will particularly help areas that have been traditionally reliant on the public sector make the transition to private sector growth and prosperity. Proposals for funding will be sought from private organisations and public-private partnerships, and local enterprise partnerships will have a key role to play in coordinating bids across areas and communities. Around 350 responses to the consultation were received, from organisations including trade associations, business groups, local authorities, universities and, environmental bodies, setting out their views on how the Fund can be designed to best meet the needs of local areas and communities. The Government's response to those views and further criteria for funding proposals will be set out in the forthcoming White Paper.

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