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 £2.85 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. 130,000 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:

  • £355 million in the automotive industry
  • £148 million in aerospace
  • £81 million for low carbon enterprises

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.

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’.

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.

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