Regional Growth Funding

Ten businesses and projects across the region are set to receive a share of half a billion pound as successful applicants in the fourth round of the Government's regional Growth are announced today.

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"Short-sighted and narrow-minded" funding decision for North East airport

There are concerns for the future of a North East airport after the Government turned down funding for a 4.6 million pound expansion plan.

Bosses at Durham Tees Valley Airport had hoped to secure the Regional Growth Fund cash to generate new jobs and investment.

This is the latest in a series of funding problems at the airport in recent years.

The Labour MP for Sedgefield, Phil Wilson, has described the decision as 'short-sighted and narrow-minded'.

Durham Tees Valley Airport misses out on cash boost

Durham Tees Valley airport chiefs have said they are "extremely disappointed" at the news that, for a second time, their bid for funding to support a multi-million pound development plan has not been approved.

The airport was hoping for £4.65million from the Government’s Regional Growth Fund to contribute towards the construction of a new access road to land on the south side of the airport.

The airport say there was the potential to create 1,400 new jobs over the next ten years.

"We believe that we made a very strong case for a project which could be of enormous benefit to both the airport and the area as a whole. Clearly in the light of today’s announcement we will need to consider the options now available to us.”

– Peter Nears, Peel Group, Strategic Planning Director

Regional Growth Funding announced for North East projects

The Government has today announced the projects who are set to benefit from its Regional Growth Funding.

The list of bidders with conditional offers in the North East are:

  • Air Fuel Synthesis Ltd / Crane Services (UK) Ltd
  • JDR Cable Systems Limited
  • JDR Enterprises Limited
  • Molplex Limited
  • NET Power Europe
  • Tees Valley Innovation and Skills Growth Hub (Stockton Borough Council - Programme)
  • Bringing Finance to Businesses in the North East (Sunderland City Council - Programme)
  • Thomas Swan & Co. Ltd.
  • Sunderland City Deal Infrastructure Development (Sunderland City Council - Programme)
  • Tinsley Special Products Limited
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