BUSINESSES and university chiefs are today celebrating receiving more than £65 million of Government cash which will help create hundreds of new jobs and fund new research projects.
The money for schemes in Sheffield and Rotherham has been announced in the latest round of handouts from the Regional Growth Fund - which totals £1 billion nationwide.
Announcing the funding, Sheffield Hallam MP and Deputy Prime Minister Nick Clegg said: “In the last couple of weeks we have heard a lot from local Labour politicians about cutbacks at the council, but that is only half the story.
“This announcement represents another massive investment in new jobs for Sheffield and the wider region. Instead of concentrating on the city of London like the previous Government did, we are doing everything possible to make places like Sheffield the economic powerhouses they deserve to be.”
Sheffield University is receiving the biggest amount in South Yorkshire - £37.1 million - for its Civil Nuclear Sharing in Growth: Supplier Development and Manufacturing Research Programme at the Advanced Manufacturing Park in Catcliffe.
Meanwhile, Sheffield City region Local Enterprise Partnership - the body set up by councils and local firms to drive growth - has received £25 million towards its Unlocking Business Investment Scheme.
The money will be used to help firms kickstart expansion projects and allow them to access further private funding.
Smaller sums of £1.7 million have been allocated to support expansion of research and development into high-technology mechanical developments at the Advanced Manufacturing Park, and £1.3 million to RediTechniX, of Mexborough, to develop a fully-automated warehouse.
The Sheffield and Rotherham firms were among 130 successful bidders to the fund, which were whittled down through a competitive process from an initial 414 applications.