Regional Growth Fund offers more cash In Kent


A new round of the Regional Growth Fund has been announced with a Kent recipient of financial support being heralded as a great example of what the government’s support is seeking to achieve.

Business Minister and MP for Sevenoaks, Michael Fallon encouraged firms to apply after meeting the management team of H V Wooding at their Hythe head office. The manufacturer successfully bid for funding via the Expansion East Kent programme, operated by Kent County Council.

Michael Fallon said: “The Regional Growth Fund is playing a pivotal role in supporting business and enterprise. Jobs are being created, money is being invested and the fund is making a difference. This additional round and the improved processes we have put in place will help keep the momentum going.

“Take H V Wooding, where our support is releasing private investment, giving them the confidence to invest, hire and grow. I want more companies to come forward and apply to Round 4 or look out for similar opportunities through their local enterprise partnership.”

H V Wooding is one of the UK’s leading manufacturers of precision engineered components and assemblies. In business for more than 40 years, the company has a client list which includes Rolls Royce, Schneider Electric, Honeywell and ABB.

Kent has successfully unlocked £35 million from the second round of the Regional Growth Fund for Expansion East Kent to support business in the east of the county and which is targeted with creating 5,000 jobs to stimulate the area’s economy.

In round three, North Kent and the TIGER bid, (the Thames Gateway Innovation Growth &Enterprise) was awarded £20 million to support the creation of high-value jobs in North Kent and Thurrock in Essex, and unlock additional private investment.

Paul Wookey, Chief Executive of Locate in Kent, said: “Regional Growth Funding for East Kent has already led to an increase in enquiries from businesses looking to invest in the area, and we expect to see an increase in interest in North Kent when the TIGER funding comes on stream.”

Deputy Prime Minister, Rt Hon Nick Clegg has called on businesses across the country to bid for a share of the fourth round of Regional Growth Fund worth £350 million.

Businesses interested in finding out more about Expansion East Kent or TIGER should contact Locate in Kent on 01732 520700 or enquiries@locateinkent.com.

Leave a Reply