Nick Clegg announces Regional Growth Fund winners in Rochdale

The Deputy Prime Minster, Nick Clegg, visited Rochdale on Tuesday (12 April 2011) to announce the successful bids of the regional growth fund – including two Rochdale businesses.

Mr Clegg, had a tour of Holroyd Precision Ltd in Milnrow before announcing where the money will be spent.

Holroyd Precision and its sister companies were awarded £2.8 of the fund for the development of a new factory, R&D laboratory and HQ office.

Tygavac Ltd, in Rochdale, was also named as a successful applicant.

The RGF is a £1.4bn fund which is designed to encourage enterprise, growth and jobs in the private sector and support areas and communities that are dependent on the public sector.

Mr Clegg said: “I am delighted to announce the first successful bids for the Regional Growth Fund.

“I was bowled over by the quality of the bids.

“This money will now help create and safeguard jobs in some of the communities worst hit by the economic downturn.

“Today is a step towards rebalancing our economy away from an unhealthy overreliance on a small number of industries and a few areas. We need to spread opportunity across the whole country, drawing on our many talents.

“I know that with the right support these businesses can work with their communities and together play their part in leading the country back into prosperity.”

The Leader of Rochdale Liberal Democrats, Councillor Irene Davidson, said: “It’s a great testament to Holroyds that the Deputy Prime Minister chose to make this important announcement here in Milnrow.

“This is just another accolade to add to their trophy cabinet.

“I’m proud that Holroyds is part of our community and is recognised for its ingenuity throughout the world..”

Former MP for Rochdale Paul Rowen said: "Holroyds is an example of the modern advanced manufacturing that needs to be supported by government.

“This investment creates jobs in Milnrow and strengthens the manufacturing base of our town.

“I am delighted the Deputy Prime Minister chose Milnrow to make such an important announcement.”

The successful bidders have been made conditional allocations and will now be subject to a due diligence process, which will establish whether the Government is confident that the organisations can deliver on the proposals in their bid and be agreed through contract.