{"id":2035,"date":"2011-10-31T06:32:06","date_gmt":"2011-10-31T14:32:06","guid":{"rendered":"http:\/\/gglotus.org\/blog\/?p=2035"},"modified":"2011-10-31T06:32:06","modified_gmt":"2011-10-31T14:32:06","slug":"group-lotus-secures-british-government-backing","status":"publish","type":"post","link":"https:\/\/gglotus.org\/blog\/2011\/10\/31\/group-lotus-secures-british-government-backing\/","title":{"rendered":"Group Lotus Secures British Government Backing"},"content":{"rendered":"

The Department for Business, Innovation and Skills (BIS) has formally confirmed that Group Lotus\u2019 bid for funds from the second round of the Regional Growth Fund (RGF) has been successful.<\/p>\n

One of the main purposes of the Regional Growth Fund is to support growth within the UK manufacturing sector. Lotus recognised that the Government was seeking applications which would enable private sector organisations to invest in projects that would create jobs and secure long-term growth. Lotus\u2019 growth plans are completely aligned with the Fund\u2019s objectives and will go someway towards rebalancing employment between the public and private sector in the South Norfolk region.<\/p>\n

The grant will be put to good use supporting the industrial research element of the production of Lotus\u2019 future product range. This significant development will go towards ensuring that the manufacturing of future Lotus products remains in the UK for the foreseeable future and in the process create a considerable number of new jobs over the next five to six years.<\/p>\n

Commenting on the news, Group Lotus Chief Executive Officer, Dany Bahar<\/a> said: \u201cThis is great news for all those concerned about Group Lotus moving production overseas, to say that we\u2019re pleased with the result would be an understatement. We are an authentic British automotive manufacturer with an incredible heritage and an exciting future ahead, this funding will play a role in assisting with the realisation of our business plan to produce a new range of sports cars with best in class performance and emissions.<\/p>\n

\u201cWe would like to thank everyone for their support during the bid process. The local authorities, MPs and the local enterprise partnership have all played a role in helping us secure this funding \u2013 we\u2019re very grateful, it\u2019s nice to know people feel strongly enough to act on our behalf.\u201d<\/p>\n

Business Secretary Vince Cable said: \u201cWe need to be doing all we can to enable businesses and organisations to create much needed jobs and inject private investment into the economy.<\/p>\n

\u201cWe have announced today that a further 162 projects will benefit from the fund, and expect to deliver a huge number of jobs across their businesses and in the supply chain.<\/p>\n

\u201cThis is a very significant boost to local communities, and the Regional Growth Fund will help businesses like Lotus to drive local growth.\u201d<\/p>\n

More details on the Regional Growth Fund:<\/strong><\/p>\n

The Regional Growth Fund is a discretionary \u00a31.4bn Fund that will operate for 3 years between 2011 and 2014 to stimulate enterprise by providing support for projects and programmes with significant potential for creating long term private sector led economic growth and employment. In particular it will help those areas and communities that are currently dependent on the public sector make the transition to sustainable private sector-led growth and prosperity.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Department for Business, Innovation and Skills (BIS) has formally confirmed that Group Lotus\u2019 bid for funds from the second round of the Regional Growth Fund (RGF) has been successful. One of the main purposes of the Regional Growth Fund is to support growth within the UK manufacturing sector. Lotus recognised that the Government was … <\/p>\n

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