Huddersfield and Calderdale firms are benefitting from a £1billion Government scheme to boost business.

The Regional Growth Fund was announced in 2010 in a bid to bolster manufacturing and engineering industries outside of London.

Now for the first time the Deputy Prime Minister Nick Clegg has revealed the projects that are underway.

They include schemes for Huddersfield firms, David Brown, Cummins Turbo Technologies, VTL Precision and the University of Huddersfield.

Brighouse based Severn Unival has also gained from the regional growth cash.

There are more than 400 projects underway in total, 48 of which are in Yorkshire.

More firms are expected to be announced for the sixth year of grants later in 2015.

David Brown Gear Systems was one of the first to land a £2m grant which it added to its own £2.8m investment to create 80 jobs by developing gearboxes for use in wind turbines.

Deputy Prime Minister Nick Clegg said: “It is great news that the Regional Growth Fund has now reached the landmark of supporting its 8,000th company.

“This innovative fund is helping companies to invest, expand and to create sustainable jobs in the local community.

“Rebalancing the economy and boosting regional growth has been a top priority for me in Government. It is a key part of building a stronger economy and fairer society.

“The success of the RGF is a shining example of how government can help regional businesses realise their own goals and plan for a prosperous future.”

 

Cummins Turbo Technologies is a global market leader in the design and manufacturer of turbochargers for commercial diesel engines.

It used the money to develop a Holset-branded turbo system for medium and heavy duty truck engines.

Severn Unival, designs and makes specialist valves for the energy industry in markets, including the Middle East, the Far East, Europe, Canada, the USA and the North Sea. It used its grant to move from Milford Street to new premises in Brighouse.

VTL Precision based at St Thomas Road produces components for car and truck engines.

It used the cash for research and development and to fund potential acquisitions.

Huddersfield University’s grant went into research on improving rail safety.