New Regional Growth Fund investment for local businesses in Exeter and the South West

Dom Morris has welcomed the announcement of £47 million in additional funding from the Regional Growth Fund to help regional businesses grow and create jobs inExeterand the South West.


This brings the total funding to the South West to date from the Regional Growth Fund to £240 million, attracting £0.9 billion of private investment and projecting to support 51,000 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.


Dom commented:


‘This £47 million of extra funding is fantastic news for local people in Exeter.


‘Projects like Ashwood Automotive’s greener engine manufacturing will help unlock private sector investment - helping local businesses to grow and bringing jobs to our area.


‘Creating more jobs by backing local businesses is a key part of the Conservatives’ long-term economic plan to secure a better and brighter future for Britain. Each new job this fund supports means another family with 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.’