Tory veteran Lord Heseltine, current chairman of the Independent Advisory Panel, has urged businesses to apply for millions of pounds worth of funding available from the Regional Growth Fund.
Speaking of the importance of economic growth at the York Roadshow Lord Heseltine said: “I hope businesses and public-private partnerships are inspired to think about innovative and creative ways of making a difference to growth and shaping their economic future.”
The Regional Growth Fund has been designed to provide support for projects that can drive sustainable economic growth and to help communities dependent on the public sector make the transition to private sector-led growth.
Lord Heseltine spoke of the scheme’s success: “The Regional Growth Fund was exceptionally popular in the first round, and we received many bids that demonstrated strategic thinking on how to create jobs and contribute to local economies.”
The second round of the Regional Growth Fund opened to bids on April 12 and will close on July 1. The second round aims to allocate around £950m of the £1.4bn fund.
Ministers announced that there were 50 successful bidders from the first round of the Regional Growth Fund back in April.