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) supports eligible projects and programmes that are 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.

For every £1 invested through the RGF, the private sector has put in £5.50. The total investment of private sector support is expected to be £16 billion. Over 100,000 jobs have already been created and a further 480,000 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

In the next 2 years the RGF will be expanded through £297 million extra funding to 63 projects and programmes in RGF Round 6 and exceptional RGF. This is expected to unlock £1.5 billion extra private sector investment.

RGF Round 6 (R6) - selected bids

The successful R6 bidders are:

East Midlands

  • The University of Nottingham
  • Eicher Motors Limited

East of England

  • Hybrid Air Vehicles Limited
  • Bosch Lawn and Garden Limited
  • Nwes & Archant
  • CTruk Boats Limited

Nationwide

  • FSE Social Impact Accelerator (Programme) Ltd
  • Cavendish Consortium
  • Sharing in Growth UK Ltd
  • Economic Solutions Ltd
  • Creative England
  • YTKO

North East

  • Siro (UK) Limited
  • Bristol Laboratories Limited
  • Procter and Gamble Technical Centres Ltd
  • Company name withheld currently for commercial reasons (this name will be published as soon as possible)

North West

  • St Helens Chamber Ltd
  • Economic Solutions Ltd
  • Cumbria Chamber of Commerce
  • East Lancashire Chamber of Commerce and Industry
  • Victrex PLC
  • MSIF
  • M Sport Ltd
  • HPL Prototypes Ltd
  • Hanson Springs Ltd
  • S Cartwright & Sons (Coachbuilders) Limited
  • Barnfield Investment Properties Limited
  • The University of Manchester
  • BioCity Nottingham Ltd
  • Reform Energy PLC

South East

  • Vector Aerospace International Limited
  • Aeromet International PLC
  • North Sails

South West

  • City College Plymouth
  • University of the West of England
  • Plymouth University/SWMAS Ltd
  • Avanti Communications Group plc
  • Plessey Semiconductors Limited
  • University of Gloucestershire
  • Ashwoods Automotive Ltd
  • Anthony Best Dynamics Ltd
  • Cambridge Silicon Radio Limited
  • Corin Limited South West
  • Spirent Communications PLC
  • Tulip Ltd
  • Goonhilly Earth Station
  • Hymec Aerospace (UK) Ltd

West Midlands

  • NTM GB Ltd
  • Easat Antennas Limited
  • Brose UK Ltd
  • Greater Birmingham Chambers of Commerce
  • The Lighting Industry Association Ltd
  • Arlington Wheels Limited
  • Stobart Biomass Products Ltd
  • Conder Structures
  • University of Wolverhampton
  • Jaguar Land Rover Ltd
  • Rimstock plc
  • Company name withheld currently for commercial reasons (this name will be published as soon as possible)

Yorkshire and the Humber

  • BE Group
  • CS Wind UK Limited
  • Finance Yorkshire Limited
  • Kemira Chemicals UK Ltd

This list includes successful Exceptional Regional Growth Fund (eRGF) bids announced for the first time.

All bidders should have now been informed of whether their bid has been selected.

If you have not been contacted please email the RGF Secretariat (growthfund@bis.gsi.gov.uk).

R6 selected bidders should view RGF: a guide for bidders’ for details on what happens next.

We appreciate unselected bidders will be disappointed. R6 received a huge demand and was a very competitive process.

Feedback for R6 unselected applications will be available between 2 to 20 March 2015. You should register your interest no later than 20 March 2015 by sending an email to growthfund@bis.gsi.gov.uk.

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 RGF Independent Advisory Panel (MS Word Document, 107KB) (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:

  • industry
  • finance
  • government
  • regeneration
  • academia

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’.

RGF funding still available

RGF money is still 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 second annual update on progress - RGF Rounds 1 to 3

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, and will take place outside the normal bidding process. Applications for eRGF support are subject to the same level of appraisal, including independent scrutiny. Extra criteria will apply. If we give you support, due diligence is still required.

Organisations interested in eRGF should first approach the government department that manages their sector relationship. Departments will work out what other sources of support might be available before considering applying for eRGF.

See eRGF support guidance for further information.

Contacts

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

Department for Business Innovation and Skills local offices

Please only call the below numbers if you have a local enquiry - otherwise contact the RGF Team (growthfund@bis.gsi.gov.uk).

  • north-west: 0161 2610350
  • Yorkshire and Humber: 07788 345525
  • north-east: 07827 083634
  • West Midlands 0121 345 1228
  • East Midlands 0115 8724736
  • London and the east: 020 7215 3295/01223 771869
  • South West: 07790 692252