Jaguar Land Rover (JLR) is among the companies selected for a grant from the third round of the Government’s Regional Growth Fund (RGF). The company is one of hundreds of UK businesses invited to apply for these grants to support growth in the UK. Projects supporting the manufacturing sector and the automotive industry in particular are the main beneficiaries of the latest round of the Government’s £124 million Regional Growth Fund settlement for the West Midlands.
The funding, which is set to pave the way for around £1,300m of investment from the private sector, is split between 16 projects will either create or safeguard nearly 44,000 jobs.
The JLR grant will enhance the significant investment of £2bn already being made by the company in the UK in 2012/13. These projects include developing additional manufacturing capacity for innovative future products that will be manufactured in the UK, training programmes for all 10,000 of Jaguar Land Rover’s manufacturing employees and the research and development of technologically advanced future products.
Responding to the news, Caroline Spelman, MP for Meriden, said: “JLR certainly deserve this opportunity to push forward with projects which can only improve their already exemplary record of industry and employment. I was delighted to hear the news about the third round of RGF which is designed to create jobs and cut unemployment in the regions. As a West Midlands MP, I know how important this investment will be for the area. Awards to other West Midlands companies will help to concentrate resources where they are most needed."