The Journal reports that the strategy will help to create 29 projects, which aim to pull in around £170 million from the fund, as well as £907 million of private sector cash.
What this looks set to reflect on the north east of England's recruitment scene is that an estimated 37,000 jobs in the region will either be protected or created.
Business minister Michael Fallon commented: "The north east turns out to be one of the big winners from the fund. They have a much higher total value of bids selected proportionately against the size of the region."
The north east local enterprise partnership is especially set to benefit from the RGF strategy.
According to the news source, the organisation has been allocated £30 million in order to enhance its planned £100m infrastructure fund. This aims to create more than 2,300 new jobs over the next decade.
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Posted by Nikki Barrister
Hat Tip To: Salespeak News