Local companies win £3.5 million from Regional Growth Fund

The Government has announced the 119 successful organisations and groups who have been allocated money under the Regional Growth Fund. A total of £950m of funding will create over 200,000 jobs acrossEngland.

In Blackburn and Darwen, Lucite International and Phoenix Court Blackburn Limited have received funding from the Regional Growth Fund, to fund improve and expand their production facilities

Commenting, Lib Dem Group Leader, Cllr David Foster said:

"The allocation of funding will create jobs and growth and is a vote of confidence in our area.

"Liberal Democrats are committed to rebalancing the economy, away from financial speculators in the City ofLondon, to real growth in every part of the country.

"Today's announcement comes on top of the work Liberal Democrats in Government have been doing to get more apprentices in the region.

"All of this work will build a sustainable local economy with jobs for everyone, especially for our young people."

Commenting further, Liberal Democrat Leader and Deputy Prime Minister Nick 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 an estimated £6 put in for every £1 of public money.

"People in the rest ofBritainhave 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."

Details of the two bids are:

Phoenix Court Blackburn Limited

Accrol Papers Extended Production Facility: A project to extend and improve production facilities in Blackburn to meet anticipated increase in demand as well as realising operational efficiency savings. Accrol says it is now the largest independent converter of soft tissue products in the UK.

£5.8m of which £4.4m will be met by Phoenix Court Blackburn Ltd (Phoenix Court, the applicant for RGF, is a sister company of Accrol and will undertake development and lease building to Accrol) and £1.5m RGF grant funding.

Lucite International UK Ltd

Project to install a fourth production line facility at the Darwen plant near Blackburn, to increase production of cast acrylic sheet for sanitary ware, lighting, signage, furniture and other applications.

£15.6m, of which £13.45m is private funding from the applicant, and the remaining £2.15m RGF grant.