UK engineering firms win share of £950million growth fund

The successful 119 bidders were announced today by Deputy Prime Minister, Nick Clegg, as part of a wider, £1.4billion initiative. The funding is expected to support nearly £6billion of private investment in the successful projects and create/maintain more than 200,000 jobs. A large number of engineering firms featured highly among the successful bidders, including JCB, Federal-Mogul, ThyssenKrupp, TRW Systems, Bentley Motors, Vestas, Lotus, Airbus Operations, Zytek, Trac and Sheffield Forgemasters. Speaking today in Rotherham, South Yorkshire, Clegg said: "I am delighted to be able to announce this boost to business, which will jump start growth and create jobs that last in the places that really need it. "This targeted support for businesses across the country allows them to expand and create jobs. It unlocks private sector investment – with at least £5 put in for every £1 of public money. People in the rest of Britain have been let down for far too long by governments in thrall to one square mile of it. "The first pot of Regional Growth Fund money is already making a difference across the country - helping to rebalance our economy so that every region and sector benefits."