The UK Government has signed off seven more Regional Growth Fund deals helping two waste energy projects to get going along with a factory scheme and science park, including one Anaerobic Digestion Plant.
Here is the news item:
Deputy Prime Minister Nick Clegg announced a further two bidding rounds for cash after the Chancellor revealed plans to set aside a further £1bn pot of cash to create jobs.
Cities will be encouraged to put forward innovative programmes and packages of projects in future rounds.
Clegg said: “This additional billion pound boost for British businesses means the Regional Growth Fund will create an estimated half a million jobs before the end of this parliament.
“With this targeted support for companies we’re unlocking private sector investment, with at least £5 put in for every £1 of public money.
The Regional Growth Fund was launched in October 2010.
So far it has allocated £1.4bn through two bidding rounds. There were 50 successful projects in the first round sharing £450m. More than 50% of the projects from the first round are already up and running.
In the second round, 119 bids received conditional allocations of funding, with a further 10 requiring further discussion.
Of these 10, seven have funding conditionally allocated to them, increasing the number of bids receiving a share of £950m to 126, and the total of new and existing jobs supported to 244,000.
Of the 244,000 jobs created or protected, around 38,000 will be directly created jobs, and more than 170,000 will be in the supply chain.
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A BF Biogas Limited Project to build an anaerobic digestion plant in Teesside, converting food and garden waste into biogas for power generation.