Information on the Regional Growth Fund (RGF), including latest news and how to access the RGF and other funding sources.
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 £2.85 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
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.
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.
RGF applications process
BIS appraises all applications to check they meet RGF objectives, as well as being achievable and are value for money of the proposals.
The(IAP) reviews every application. The IAP – chaired by Lord Heseltine – is an independent group of experts. Their role is to advise Ministers on which proposals should be supported. It’s made up of senior people from across:
Ministers then meet to decide which projects and programmes to offer conditional support to. Selected proposals then proceed through due diligence, before agreeing final terms. For more details on what happens once selected, view ‘RGF: a guide for bidders’.
Exceptional Regional Growth Fund (eRGF)
Ministers reserve the option to use Regional Growth Fund funding flexibly to respond quickly to economic shocks and opportunities. This will be in exceptional circumstances only. Organisations interested in eRGF should first approach the government department that manages their sector relationship.
Email: RGF Team (email@example.com) if you have any queries.