Contractors could benefit from new £1billion boost for Regional Growth

by SJD Accountancy on November 16, 2012

SJD Accountancy - Regional Growth Fund

Limited company contractors and freelancers will be interested to hear that the £1 billion third round of the Government’s Regional Growth Fund will create and safeguard thousands of jobs over the long term.

The announcement, made by Deputy Prime Minister, Nick Clegg, revealed that around £6 billion of private sector investment will follow and up to 130 projects will benefit from the funding.

The Government investment will help manufacturing firms, small businesses and local partnerships across England to expand their operations, create new jobs and stimulate growth – the Government’s top priority.

Deputy Prime Minister Nick Clegg said, “This £1 billion boost for growth in towns and cities across England is creating jobs that will last in the parts of the country that need it most.

In tough economic times the Regional Growth Fund is good value for taxpayers’ money – this £1 billion round of the fund is pulling in £6 billion of private sector investment.”

He added, “I have seen for myself the real difference this makes on the ground – from iconic businesses like Eddie Stobart expanding in Widnes and creating 3,450 jobs in the local area, to the Sunderland car parts factory, Unipres who have used their funding to buy a new 3,000 tonne press, letting them accelerate production and take on an extra 316 people.

The Regional Growth Fund is working, on track and supporting businesses to create jobs and grow the economy.”

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