300 firms bid for £350m growth fund

Nick CleggMore than 300 applications have been made for a share of £350 million in Government funding aimed at helping companies expand.

Most bids for the fourth round of the Regional Growth Fund have come from firms in the North West of England.

Recommendations will be made to a ministerial group led by Deputy Prime Minister Nick Clegg, who said: "It is great to see so many proposals from companies that want money to move ahead and expand.

"As in previous rounds of the Regional Growth Fund, this is a competitive process and we will be analysing the proposals carefully before selecting the winning bids - ensuring we put money where it counts, to create or safeguard local jobs for the long-term.

"I have seen first hand what firms are doing with the money already invested, from household names such as Aston Martin who have brought back the production of the iconic Rapide S to the West Midlands and created job and apprenticeship opportunities, to emerging companies like Molecular Profiles, who built a new pharmaceutical and manufacturing facility in Nottingham."

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