LEP-backed bids are fund winners

Projects led by local enterprise partnerships (LEP), including one to support manufacturing and start-up firms across the Tees Valley LEP area, are among 119 earmarked to share £950 million as part of the second round of the government's £1.4 billion Regional Growth Fund (RGF).

Although the bids did not have to come from LEPs, many partnerships put together bids with local firms for economic development initiatives.

As well as £39.6 million for Tees Valley firms, other successful LEP-backed bids include a project to increase parking capacity at Station Road in Southampton for people using a nearby coach station, which was supported by the Solent LEP and has received £5.5 million from the RGF, and various projects that aim to expand businesses across the Leeds City Region LEP area, which have received £32 million from the fund.

All bids are subject to a due diligence process to assess their financial and legal compliance.

In April, deputy prime minister Nick Clegg announced the recipients of the £450 million available through the RGF's first round. This week's announcement means all the funding has been allocated.

However, a spokeswoman for the Department for Business, Innovation and Skills insisted that an earlier government pledge to hold a third and final bidding round to invest funds left ''unallocated if any of the firstand second-round bids are thrown out in the due diligence process "still holds true".

A full list of the winning bids can be viewed via PlanningResource.co.uk/go/referencesection.

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