Logistics firm to benefit from government cash injection
A Lancashire company is to benefit from a £23m investment in the region, announced by the deputy prime minister.The government’s Regional Growth Fund will invest £300m in 50 projects across the country to create thousands of jobs and fuel business expansion. North West Logistics in Altham is among those benefiting from the funding.
North West Logistics, which provides storage and transport services to a range of blue-chip companies across Europe, will build a new facility to expand its specialist hazardous product division.A total of £23m has been given to seven projects in the North West in Round 5 of the Regional Growth Fund (RGF). This is expected to raise £140m of private investment and create and safeguard thousands of jobs.
When added to the success of the first four rounds, this represents a total of £420 million of RGF funding for 79 North West projects. This has raised £2.3bn of private sector investment and will create tens of thousands of jobs in the long-term.Deputy prime minister Nick Clegg said: “We’re seeing very encouraging signs that the British economy is on the road to recovery. Home-grown and British-based businesses are leading that charge for a stronger economy. The Regional Growth Fund gives businesses a helping hand from Government to fuel business expansion and create sustainable employment." Round 6 of the Regional Growth Fund will open for applications in the summer.