RGF funding acts as a catalyst for economic growth

The Jobs and Growth Fund Programme, funded through the government’s Regional Growth Fund (RGF) and delivered through the Staffordshire Chambers of Commerce, has established itself as a catalyst for the region’s economic growth.

The programme is fundamental in strengthening both local industry and local economy. By providing gap funding to SMEs where investment would not otherwise be offered, businesses are given help to develop and grow. Whether it is used for premises expansion, new premises, plant and machinery, or infrastructure, the funding made available through the RGF is acting as a stimulant to Staffordshire’s economy.

Jobs and Growth Fund Programme Manager Matt Hustwit comments: “The programme is proving to be a real support to local businesses. RGF funding is fostering business growth and development across the region, and substantial positive results can already be seen.

“So far, we have offered £2.3m in grants, which in turn has generated £18.3m of private sector investment. We’ve also been successful in helping companies to create a potential 673 jobs within the region, and safeguarded a further 159, meaning that 832 jobs have been secured thanks to the programme.”

One Burton-based business set to grow with RGF funding is Supreme Surface Treatment Engineering Ltd.  Manager Peter Gillett testifies: “Our turnover has been increasing to the point where we are operating at full capacity within our existing factory, and have orders which we cannot accommodate. We wanted to continue our expansion, but there was a shortfall in cash flow. I found a reference to the RGF on the Chamber website, and made contact with Matt who then helped me to put together an application for grant funding for an expansion project. Without the RGF we wouldn’t have been able to make these bold moves for several years. As it stands, we are buying the building imminently.”

Matt adds: “Success stories like this show just what an impact RGF funding can have. Having that extra financial support gives businesses the boost they need to expand, which in turn is helping to secure a sustainable future for Staffordshire’s economy.”

To find out more about the Jobs and Growth Fund Programme, please contact Sarah Colclough at sarah.colclough@staffordshirechambers.co.uk.