LEP confident in RGF bid success
Local Enterprise Partnership (LEP) Chairman James Newman believes that the Sheffield City Region has every reason to be confident in the Sheffield City Region Regional Growth Fund (RGF) round three programme bid.
The Sheffield City Region’s bid is among 408 bids from across England which have now been submitted to the Government’s RGF Secretariat. Ministers have just £1 billion to allocate, and competition will be fierce as the combined value of bids from across the country is £2.68 billion.
The Sheffield City Region has had mixed fortunes in the first two rounds of the Regional Growth Fund, securing £18 million for the Doncaster-Sheffield Airport link road in round one, but subsequently losing out to other areas in the second round of the bidding.
James Newman said: “Although we haven’t had our fair share of the fund so far, this time we have made Government an offer that they will find extremely attractive.
“Our innovative programme bid asks Government to invest £38.6m to unlock £151.2 million of direct business investment, leading to sustainable, private sector growth. The footprint of this will be 2,193 new private sector jobs by March 2015. There will also be countless further benefits including indirect jobs, and jobs safeguarded in the region.
“We know that there is huge untapped potential in the City Region and this programme will demonstrate that a small amount of funding can unlock four, five, six or more times as much direct private sector investment – leading to growth and sustainable, private sector employment.
“This bid has been several months in planning and a lot of hard work has gone into getting it right – it brings together dozens of companies with robust plans for growth. This is why the LEP Board is very confident that this bid will be extremely attractive to the ministerial panel.”
The ministerial panel is expected to make their announcement in early Autumn 2012.