There are few surprises in first round of Regional Growth Fund bids, says Adrian Nolan. But it reinforces the same concerns The Department for Business, Innovation and Skills has released a breakdown of the bids it has received from across the country for the £1.4bn Regional Growth Fund (RGF). It reveals a number of notable, but not wholly surprising, trends. The first, and most revealing aspect, highlights the huge imbalance between supply and demand as places compete vigorously to gain access to one of the very few pots of substantial funds available. Overall, 464 bids were received asking for a total of £2.78bn – double what is available during the whole three-year lifetime of the fund. When you consider the first round funding pot is limited to £250m-£300m, the application panel will have a difficult job sorting out the bids that appear to have greatest economic value and potential to … (To read the full article, subscribe below)
Adrian Nolan is associate director at CLES.
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