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| Regional Growth Fund to support 500,000 jobs |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Tuesday, 06 December 2011 00:00 |
 The government's Regional Growth Fund will support a further 500,000 jobs, according to deputy prime minister Nick Clegg.It was announced in last week's Autumn Statement that £1 billion would be put towards the fund, which now stands at £2.4 billion, as it aims to encourage private investment. "With this targeted support for companies we're unlocking private sector investment, with at least £5 put in for every £1 of public money," Mr Clegg said. "The first pots of Regional Growth Funding money are already jump starting growth and creating jobs across the country - helping to rebalance our economy so that every region and sector benefits." Business secretary Vince Cable added that more than half of the projects from the first round of bidding are already up and running, sharing £450 million. A second round of bidding has seen seven projects receive funding. They include the construction of a new waste management plant in Tees Valley and the creation of a new Enterprise Agency Consortium in the north-east. The next round of bidding will open in February. Posted by James Strang 
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