The UK government has announced £950m worth of grants to businesses in order to help the creation and maintenance of more than 200,000 jobs.
Announcing the grants, Prime Minister David Cameron spoke of an “all-out mission” to help get the economy moving.
The grants to English businesses fall within the second round of the government’s £1.4bn regional growth fund, covering the north and north west of the country.
Just under 120 businesses in the region have successfully bid for grants and will receive their money within the next few months.
Ministers responsible for the grants say that they will create around 37,000 jobs. A further 164,000 jobs will be protected whilst almost £6bn of private investment will be made following the initial round of support.
The Confederation of British Industry (CBI) said that they welcomed the initiatives, especially as the medium-sized businesses who have received grant money “have the greatest growth potential but are often held back by difficulties accessing long-term finance”.
Dr Neil Bentley, deputy director general of the CBI, said: “Crucially it will help rebalance the UK economy, boosting areas that have been depending on public sector funding.”
The news will also be welcomed by candidates seeking new opportunities as a change from their existing private and public sector jobs.
