Government – guidance

Regional Growth Fund

Information on the Regional Growth Fund (RGF), including latest news and how to access the RGF and other funding sources.

Overview

The Regional Growth Fund (RGF) has supported eligible projects and programmes raising private sector investment to create economic growth and lasting employment. Since its launch in 2010 it has invested £2.7 billion to help local businesses grow and take on more staff across England.

On average for every £1 invested through the RGF, the private sector has put in £5.50 with the total investment of private sector support expected to be £16 billion. 149,000 jobs have already been created and a total of 581,000 are expected by the mid-2020s.

Businesses across all industrial sectors benefit from the funding with over £1.1 billion invested in manufacturing including:

  • £364 million in the automotive industry
  • £100 million in aerospace
  • £104 million for low carbon enterprises

Following the 2015 Spending Review, no future rounds of the RGF are proposed.

Companies and programmes awarded grants through rounds 1 to 6 will continue to receive their funding.

RGF funding still available

RGF money is available through RGF programmes. RGF programmes are run by national or local organisations offering grants and/or loans to eligible businesses. If you run a business and are looking for funding of less than £1 million, you may be able to apply to an RGF programme.

Full list of live RGF programmes

You can also see what other support might be available to you by visiting the government’s business finance support finder.

Annual monitoring report

The third annual monitoring report covers the performance of RGF between Rounds 1 to 5.

Exceptional Regional Growth Fund (eRGF)

Ministers reserve the option to use exceptional Regional Growth Fund funding to respond quickly to significant economic shocks and genuinely exceptional opportunities. eRGF funding is limited and only exceptionally strong bids will be supported. Organisations interested in eRGF should first approach the government department that manages their sector relationship.

Contacts

Email: RGF Team (growthfund@bis.gsi.gov.uk) if you have any queries.