Funding pot for growth

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Council bosses have urged large businesses in the county to apply for funding to boost growth and safeguard jobs.

The latest round of applications for the Regional Growth Fund (RGF) can now be submitted.

The Government-led initiative is set to allocate £350m in the latest wave, after recently announcing £2.6bn of funding.

The RGF is a competitive fund with bidders able to submit bids either as a project or a programme. It has a minimum bid threshold of £1m.

Geoff Driver, leader of Lancashire County Council, said: “Driving economic growth and creating jobs are key priorities for us as a county council.

“The difficulty of securing finance can act as a brake on growth which is why we support local businesses through Rosebud Business Solutions and our innovative partnership with peer-to-peer funders Funding Circle.

“It is crucial that Lancashire’s businesses take advantage of all sources of funding.”

Edwin Booth, chairman of the Lancashire Enterprise Partnership, said: “Previous rounds of the RGF have seen £28m allocated to eight Lancashire projects, so this is a proven source of funding.”

The deadline for applications is March 20 2013.

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