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Earlier this year the National Audit Office found a significant amount of the Government's Regional Growth Fund was still to be allocated.
Today, the Minister Simon Hughes said there is no longer any delay in distributing the money, which is designed to boost jobs and growth in areas reliant on the public sector.
Mr Hughes was speaking as he announced eleven winning North East projects, which will receive support from the fifth round of the RGF:
The Labour MP for Hartlepool, and Shadow Industry Minister, says he welcomes investment in the region.
The Government has announced that eleven North East projects have been chosen to receive money from the fifth round of the Regional Growth Fund.
However, Iain Wright says the process for allocating money needs to be improved, as it is taking too long for Regional Growth funding to find its way to the regions:
A Government Minister has been visiting a firm on Teesside, which is benefitting from the fifth round of the Regional Growth Fund.
Simon Hughes was shown around Tinsley Special Products in Stockton. It has received money from the scheme in the past and will use the latest funding to help create a new site in Peterlee. The RGF aims to generate jobs and growth in areas reliant on the public sector.
Stuart Arnold, Managing Director of Tinsley Special Products, said the new funding will allow him to boost the export side of his business.
The Justice Minister Simon Hughes has been visiting Tinsley Special Products on Teesside, which is one of 11 North East companies receiving money in the latest round of the Regional Growth Fund.
The RGF aims to help businesses expand and create jobs, and is aimed particularly at areas reliant on the public sector.
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Tangible investment or too little too late? Differing views on the Regional Growth Fund