Regional Growth Fund

Department for Business, Innovation and Skills written question – answered on 25th March 2015.

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Photo of Chuka Umunna Chuka Umunna Shadow Secretary of State for Business, Innovation and Skills

To ask the Secretary of State for Business, Innovation and Skills, what the total value is of all bids made in each region to each round of the Regional Growth Fund including the Exceptional Regional Growth Fund; how much has been allocated to winning bidders in each region in each round; and how much such funding has not yet been drawn down in each bidding round.

Photo of Greg Clark Greg Clark Minister of State (Universities and Science), Minister of State (Cabinet Office), Minister of State (Cabinet Office)

Holding answer received on 26 February 2015

The tables below provide a breakdown of the value of Regional Growth Fund (RGF) by region and round for RGF applications; the committed allocation of RGF to projects and programmes for all Round 1-5 programmes following due diligence and Round 6 projects and programmes that are subject to contract discussions. This data excludes those projects and programmes that have withdrawn. The third table sets out the amount drawn down by operational RGF awards to date and the financial years in which the remaining RGF and eRGF is committed through to 31 March 2017. The data is correct at 24 March 2015.

Unless otherwise agreed, projects and programmes in Rounds 1 to 4 have until 31 March 2015 to draw down their funding and projects and programmes in Round 5 and 6 will be able to draw down funding until 31 March 2017. The Department agrees a draw down profile with each organisation when they sign their grant offer letter that matches the beneficiary’s own investment schedules and job commitments. The subsequent rate of draw down is then subject to the beneficiaries meeting the conditions.

Round 1

Round 2

Round 3

Round 4

Round 5

Round 6

Excep

Total

East Midlands

245

458

116

164

47

43

-

1,074

East of England

113

118

97

51

47

46

-

472

London

74

141

45

38

6

3

9

316

Nationwide

215

321

488

317

188

215

-

1,745

North East

334

329

332

202

105

32

46

1,379

North West

519

573

427

286

67

134

14

2,020

South East

172

179

154

189

39

40

27

801

South West

144

246

297

220

63

111

22

1,103

West Midlands

567

239

459

178

52

99

55

1,648

Yorkshire and the Humber

337

451

351

244

30

68

6

1,485

Total

2,721

3,055

2,766

1,888

644

790

177

12,041

RGF Applications (£ million)

Round 1

Round 2

Round 3

Round 4

Round 5

Round 6

Excep

Total

East Midlands

2

64

27

35

20

9

0

157

East of England

12

35

25

15

5

9

0

101

London

0

0

9

0

0

0

9

18

Nationwide

175

171

171

79

84

79

0

759

North East

34

55

111

27

52

17

23

319

North West

20

180

105

54

20

50

5

434

South East

0

60

43

25

1

5

3

137

South West

4

71

82

13

22

39

8

239

West Midlands

89

25

144

43

30

38

34

403

Yorkshire and

The Humber

47

73

90

33

11

21

0

276

Grand Total

384

735

808

325

245

265

82

2,843

RGF Committed (£ million)

RGF Draw Down by year (£ million)

Financial Year

2011-12

2012-13

2013-14

2014-15

2015-16

2016-17

Total

Actual paid – year to date

464

159

551

875*

2,048

Remaining/ Planned for whole financial year

16

459

305

780

Total

2,829

*This is the actual amount paid to beneficiaries and claims awaiting payment as of 24 March 2015.

The difference between the totals in tables 2 and 3 arises because RGF applicants have not always claimed the full grant available to them.

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