Companies benefit from regional fund

Severn Unival in new premises, Birds Royd Lane, Brighouse.'Managing director Colin Findlay.
Severn Unival in new premises, Birds Royd Lane, Brighouse.'Managing director Colin Findlay.

Two Brighouse companies have benefitted from a Government scheme to boost business.

Severn Unival and Halifax Rack and Screw Cutting Co Limited were part of the Regional Growth Fund (RGF), established in 2010 by the Deputy Prime Minister, and aimed at creating and safeguarding 100,000 jobs and distributing more than £1 billion across the country.

In total the scheme has supported 8,000 companies to grow and thrive across England through a series of 400 projects and programmes.

Deputy Prime Minister Nick Clegg said: “It is great news that the Regional Growth Fund has now reached the landmark of supporting its 8,000th company. This innovative fund is helping companies to invest, expand and to create sustainable jobs in the local community.

“Rebalancing the economy and boosting regional growth has been a top priority for me in Government.

“It is a key part of building a stronger economy and fairer society. The success of the RGF is a shining example of how Government can help regional businesses realise their own goals and plan for a prosperous future.”

To boost manufacturing and engineering industries and encourage job creation outside of London, the RGF has supported companies across multiple sectors.

Alongside awards made directly to larger businesses, the RGF has also supported many small and medium-size businesses.

Local partners such as Chambers of Commerce, universities and Local Enterprise Partnerships have been running programmes to target support to those smaller businesses with most potential in their local areas.