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Regional Growth Fund bid submitted by LEP

The Heart of the South West (HotSW) Local Enterprise Partnership (LEP) has submitted a bid worth £15m to the government’s Regional Growth Fund (RGF).

Run by the Department for Business, Innovation and Skills (BIS), the Regional Growth Fund is a £2.4 billion fund operating across England between 2011-2015.

HotSW submitted a £15m bid entitled Sites and Premises to the RGF’s third round of bidding, which closed in June this year. If successful, the funding would be used to offer either a grant or loan to potential projects that could help to grow businesses and deliver local jobs and investment.

The RGF was established to support projects and programmes that lever private sector investment to create economic growth and sustainable employment. It was also set up with the aim of helping areas and communities that are dependent on the public sector to make the transition to sustainable private sector-led growth and prosperity.

Tim Jones, Chairman for Heart of the South West said: “We have strong hopes that this bid will be successful as it will allow us to grow and create employment in the Heart of the South West area.  We must unlock private investment and to do this we need to have something to offer that will support both local projects and attract inward investment.

“There is fierce competition both from the North West and the Midlands, but we are confident in the strength of our bid and the support we have received from our partners and business organisations.

“ £15 million would provide a huge boost to the local economy, and would allow us to really make a difference to economic development, creating jobs and providing growth in the localities which need it most.”

HotSW have also endorsed many stand alone bids from organisations within the area for the RGF.

Over 400 bids have been received under Round 3, which are currently being assessed by a panel led by Lord Heseltine. Recommendations from the panel will be submitted to a Ministerial Group led by the Deputy Prime Minister, Nick Clegg.

Successful bids will be announced in autumn 2012.

ENDS

Notes to Editors:

For more information, contact Liz Waugh or Julie Everett at Coast Communications on 01752 847135.

Heart of the South West

The Heart of the South West Local Enterprise Partnership (LEP) has been formed under the leadership of the private sector supported by the local authorities from Devon, Plymouth, Somerset and Torbay and the area’s District Councils. It is one of 39 partnerships created since the Government’s Local Growth White Paper published in October 2010.  More information about the work of the LEP is available from the website www.heartofswlep.co.uk.

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      David Ralph

      Chief Executive

      David Ralph started as Chief Executive of Heart of South West LEP at the beginning of June 2018. Previously, he had spent 5 years as CEO of the Derby, Derbyshire, Nottingham, Nottinghamshire (D2N2) LEP from 2013 where he oversaw the development of the D2N2 Strategic Economic Plan and sector strategies, 3 Growth Deals with HM Government to deliver a £1billion capital investment programme, securing and implementing £200m ESIF programme, the Derby and Nottingham Enterprise Zone, the D2N2 Skills Deal and Time for Innovation programme, community fund and led the executive team to develop the HS2 East Midlands hub. He was also closely involved in the proposed North Midlands Devolution Deal and one of the key architects in establishing the Midlands Engine, chairing the officer steering group. Whilst in this role David was a NED of the Nottingham Enterprise Zone, and Marketing NG, the Outer Estates Foundation and a Governor of Nottingham College and on the advisory Board of Nottingham Business School.

      Before the East Midlands, David was CEO of the Have Gateway Partnership working closely with local stakeholders including the ports of Felixstowe, Harwich and Ipswich and BT Adadastral Park across Suffolk and Essex and prior to that was Chief Exec of the Barton Hill New Deal for Communities programme in Bristol and the Nelm Development Trust in Norwich.

      David is a keen sailor, walker and trail runner.