Regional Growth Fund bids – NECC

THE Government today published a summary of the bids submitted in the first round of the Regional Growth Fund bidding process. The data showed the highest number of bids came in the North Eastern LEP area. The North East region was responsible for the third largest number of bids.

 Ross Smith, head of policy at the North East Chamber of Commerce (NECC), said: “The Regional Growth Fund was set up to support businesses in areas where the public sector has played a large role in the economy. We would expect the level of funding awarded to the North East to reflect the aims and intention of the fund.

 “It is the quality, not the quantity, of bids that will determine that and create a meaningful and sustained impact on the North East economy. Those projects that do secure funding must be genuinely business-led, they have to provide long-term, high quality private sector jobs and, crucially, create wealth.

 “We need to be mindful that this is just the first round so we must learn from bids that are successful this time and focus on priority programmes and projects that match these criteria in future.”

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