Regional Growth Fund: Round and round we go again?

Is the Regional Growth Fund being used to its full potential or have we asked too much from one limited fund?

Briefing published on 15 June 2012 by Dmitry Sivaev

The Regional Growth Fund (RGF) was announced by the Government on 29 June 2010.  It was conceived as having a dual purpose:

£450 million of funding was allocated to 50 projects in the first round in April 2011 and another £950 million was allocated to 126 bids in round two in October 2011.  According to the Government RGF will leverage an additional £7.5 billion of private investment and will support 330,000 jobs across England. As of March 2012 only 53 contracts have been signed and successful bidders have received only £190 million out of £1.4 billion allocated.  This note looks at the fund in more detail and offers a brief analysis.