Mark Pawsey MP (back left) at the signing of the Coventry & Warwickshire City Deal in 2014
Mark Pawsey MP has welcomed the announcement of £54.9 million in additional funding from the Regional Growth Fund to help regional businesses grow and create jobs in the West Midlands. This brings the total funding for the West Midlands to date from the Regional Growth Fund to £400 million, attracting £3.1 billion of private investment and projecting to support 119,000 jobs.
The Regional Growth Fund stimulates enterprise across the country by providing grants to projects and programmes with significant potential for economic growth, unlocking private sector investment and creating jobs. Today the fund is awarding 63 new projects and programmes across England with a further £297 million of investment. In total, £2.85 billion has now been invested in regional businesses since the launch of the fund in 2010, helping them to expand and create jobs.
Mark said:
“This £54.9 million of extra funding is fantastic news for local people in Rugby and Bulkington. The Regional Growth Fund is a key part of our long-term economic plan to encourage jobs and investment in British enterprise. By working with businesses to deliver additional investment from Government, we can unlock further substantial investments from the private sector. This will help attract new jobs to Rugby and Bulkington, meaning that more hard working families will have the security of a regular pay packet.”
Greg Clark MP, Business Minister, said:
‘The government is supporting local businesses and enterprise across the country, helping them to expand and create long-term, skilled jobs.
‘This latest round of RGF investments will help local firms fulfil their ambitions for growth, encourage businesses to set up bases in the UK and boost jobs and prosperity.’
Mark concluded:
“Ensuring that everyone benefits from the economic recovery that this government has been able to create is important and the Regional Growth Fund helps to ensure that we get the best possible investment in British companies. This will get more jobs and growth here in Rugby and Bulkington and help improve our community. It’s vital that we stick to the Conservative’s long-term economic plan to deliver on the progress we have made since 2010.”