Stephen Metcalfe MP welcomes new Regional Growth Fund investment for local businesses
Stephen Metcalfe, local MP for South Basildon and East Thurrock, has welcomed the announcement of £8.6 million additional funding from the Regional Growth Fund to help regional businesses grow and create jobs in the East of England (which includes Basildon & Thurrock).
This brings the total funding to the East of England region to date from the Regional Growth Fund to £100 million, attracting £0.4 billion of private investment and projecting to support 31,000 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.
Recently the fund awarded 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.
Stephen Metcalfe commented: “These latest figures are great news for the people of Basildon and Thurrock and will help local businesses grow, bringing more and more jobs into the 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.”
