£7m bid to support mid-size business

Regenerate Pennine Lancashire is bidding for £7m from the Regional Growth Fund to create hundreds of new jobs across the county.

The programme will deliver local jobs and bring an additional £30m private sector investment across Lancashire.

The Government recently invited bids for the fourth round of the RGF, worth a total of £350m nationwide.

Dennis Mendoros (pictured with Vince Cable), chair of Regenerate Pennine Lancashire, said: "We have been working with local businesses to develop the bid which offers the financial support for them to grow. This programme builds on our successful RGF round 2 bid Accelerating Business Growth which offers financial support up to £150k to SMEs. If we are successful, Regenerate will have a package of support for all types of businesses across Lancashire.”

Julie Cooper, leader of Burnley Council said, “The expansion plans of those companies that could receive RGF support will have a massive impact on short, medium and long term job creation in high value manufacturing roles as well as construction jobs, supply chain benefits and apprenticeships. The Pennine Lancashire authorities are working with companies, colleges and the universities to ensure the workforce is equipped to meet the employment demand of expanding local companies.”

Miles Parkinson, leader, Hyndburn Council said, “We hope the Government recognise the value of this bid which will benefit the UK economy at this critical time. The Pennine Lancs authorities and Regenerate are committed to supporting our local businesses and their growth ambitions.” Joe Cooney, leader, Pendle Council said, “Pennine Lancashire has a strong reputation for manufacturing and engineering. This RGF bid will provide a massive boost to the North West economy, securing local jobs and promoting growth, something which Pendle Council is strongly committed to doing”