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Regional jobs and growth fund announced

12 April 2011
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Regional jobs and growth fund announcedSeveral manufacturers are among those who will benefit from a £450 million investment pot designed to safeguard and create jobs.

The Regional Growth Fund (RGF) will see financial support given to 50 companies and partnerships which demonstrated how they would create jobs and help stimulate economic growth in their local communities.

Deputy prime minister Nick Clegg stated that he was impressed by the quality of the bids received and that the money will help rebalance the economy by supporting several industries instead of a handful of larger ones.

"We need to spread opportunity across the whole country, drawing on our many talents. I know that with the right support these businesses can work with their communities and together play their part in leading the country back into prosperity," he added.

The business secretary Vince Cable said on a tour of production firms in Wales recently that manufacturing is crucial to returning the UK to economic health.
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