The Government has announced a £64.4m package of new investment across the English regions.
The funding was announced today by Business Secretary Lord Mandelson and Minister for Regional Economic Development Rosie Winterton.
It will be distributed by the nine Regional Development Agencies (RDAs) to support a range of new initiatives in key industrial sectors, including green energy provision, low carbon manufacturing and R&D, support for science and innovation and urban regeneration.
Lord Mandelson said:
“The RDAs are by far the best way for the Government to secure future economic growth. Their Action Plan highlights how they are uniquely placed to help deliver our strategies for economic recovery, job creation and business success throughout the country.
“For every £1 the RDAs spend, around £4.50 is put back into their region’s economy. Over the past decade, this spending has created more than 850,000 jobs, helped start up nearly 60,000 businesses and ensured that people across the country are able to benefit from new economic opportunities in their region.”
Each RDA announced details of new initiatives and investments in their region:
- Northwest Regional Development Agency: £4.4m investment in a new Centre for Nuclear Energy Technology to position the Northwest as a region of global nuclear capability
- ONE North East: £5m package to help Tees Valley companies improve their resource efficiency by reducing their energy use
- Yorkshire Forward: £6m funding for the regeneration of Huddersfield Waterfront Quarter
- East Midlands Development Agency: £22 million to help regional businesses develop and exploit innovative ideas
- Advantage West Midlands: £3.9m grant for Michelin to increase capacity at its Stoke-on-Trent plant, install new equipment and modernise the production process
- East of England Development Agency: £5.5m for companies conducting low carbon R&D across the region
- South East England Development Agency: £7.4m investment deal to help GKN and Rolls Royce establish a pre-production facility for Environmental Lightweight Fans (ELF) on the Isle of Wight
- London Development Agency: A new series of free seminars to help SMEs build on their successes and identify new opportunities for growth
- South West Regional Development Agency: £10.2m additional funding for the Bristol and Bath Science Park.
The RDAs also confirmed their commitment to the Government’s New Industry, New Jobs and Going for Growth policy agendas in an Action Plan to ensure their regions can benefit from future growth opportunities. The Government also published a policy statement to help the RDAs and Local Authorities prepare their new Regional Strategies for:
- promoting sustainable economic growth
- increasing housing provision, and
- tackling climate change.
The Technology Strategy Board also published its report ‘Accelerating Business Innovation across the UK’ about how it is working with the RDAs and the Devolved Administrations to boost business innovation across the English regions and in Scotland, Wales and Northern Ireland.
Press notice
For more information read the BIS press notice.
Images
Images from today’s announcement can be viewed at the BIS Flickr photo album. They are available for re-use by journalists and bloggers under Crown Copyright.
RDAs
Learn more about the work of the regional development agencies:
Advantage West Midlands (PDF 1.5MB)
East Midlands Development Agency (PDF 600KB)
London Development Agency (PDF 700KB)
North West Development Agency (PDF 800KB)
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