THE Government has claimed that more than 1,300 new jobs will be created and safeguarded in the South West as it plans to £450m in businesses across England.

The first round of the Regional Growth Fund (RGF) will see an expanded amount of public investment support 50 bids by companies and partnerships who demonstrated how they would create jobs and a high level of private sector-led sustainable economic growth in their local communities over the coming years.

The Government expects over 27,000 jobs to be directly created and safeguarded, with close to a further 100,000 jobs in associated supply chains and local economies.

The second round of the fund opened on April 12. This round will aim to allocate the remainder of the fund (nearly £1bn).

The £450m being invested by the Government through the first round of the RGF is expected to leverage more than £2.5bn of private sector investment.

The RGF is a £1.4bn fund which is designed to encourage enterprise, growth and jobs in the private sector and support areas and communities that are dependent on the public sector.

Government figures say the 787 direct jobs and 535 indirect jobs will be created in the South-West.

They include bids from the following: EADS UK, Messier-Dowty and South Devon College.

Deputy Prime Minister Nick Clegg said: “I am delighted to announce the first successful bids for the Regional Growth Fund. I was bowled over by the quality of the bids. This money will now help create and safeguard jobs in some of the communities worst hit by the economic downturn.”

To promote the second round of the fund and encourage quality bids that meet the objectives and criteria, there will be a series of road shows across England to speak with businesses and organisations with an interest in submitting a bid to advise them on all aspects of the fund. A schedule of the road shows will be available in due course – click on the Related Link below.