Two Lancashire organisations land RGF millions

A Lytham company and a Blackburn-based growth programme have both been selected to receive funding packages by deputy prime minister Nick Clegg.

NickCleggIt's part of a £506m funding pot to be divided between 102 companies and projects aimed at attracting significant private sector investment and creating thousands of jobs.

The first is Accelerating Business Growth PLUS (ABG+) which will provide mid-sized businesses with access to finance to accelerate their growth ambitions. The funding will create 500 new jobs in Lancashire and safeguard a further 250.

Regenerate Pennine Lancashire will deliver the programme with Blackburn with Darwen Council and following success in previous RGF rounds it now means Lancashire is the only area of the country where businesses can access grants of between £5,000 and £1m.

The Lancashire Local Enterprise Partnership (LEP) Board supported the bid. LEP board member and chairman of Regenerate Dennis Mendoros said: “Regenerate is now able to provide support for all sizes of businesses across Lancashire with growth ambition. This will be provide huge boost to our local economy and help create hundreds of jobs in growing industries.”

Also receiving funding is Helical, the Fylde-based business making engine and exhaust parts. The company recently opened a new multimillion pound tech centre in Warton. The deputy prime minister said: “There are more people in work today than ever before – since 2010 we have helped create 1.3 million jobs in the private sector. That’s what the Regional Growth Fund is all about – and I’m extremely proud to have found extra money to invest in projects across the country that have plans for the future and want to recruit local talent that will make their businesses better."