Regional Growth Fund (“RGF”)

The Regional Growth Fund is a new £1.4 billion fund which will operate across England to stimulate private sector led sustainable economic growth and employment. The fund will operate over three years and has two core objectives which are as follows:

• to encourage private sector enterprise by providing support for projects with significant potential for economic growth and create additional sustainable private sector employment; and
• to support, in particular, those areas and communities that are currently dependent on the public sector to make the transition to sustainable private sector led growth and prosperity.

The RGF will be spread over several bidding rounds with applications being considered against the objectives detailed above.

Applications which meet one of the two core objectives will be considered but those that meet both will have priority. The Fund will encourage private sector enterprise, including social enterprise, to create opportunities for people and places to adjust to reductions in public spending.

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