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The UK Department for Business and Trade commissioned Belmana to evaluate the Exceptional Regional Growth Fund (eRGF), with partners RSM UK and IFF Research. The study evaluates 10 investments, which were provided with a total of £101 million of grant support, complemented by a further £555 million of co-investment from the businesses concerned. The quantitative analysis looks at all eRGF interventions alongside the wider Regional Growth Fund’s Regional Projects portfolio of over 100 interventions.
The evaluation utilises a mixed methodology approach to test the eRGF logic model by asking whether those involved in the projects link the funding provided to decisions to locate significant investments in the UK (carried out via the qualitative case study approach).
The quantitative evidence then explores 2 dimensions:
- whether projects are associated with expansions at businesses and fewer closures of operations
- whether the employment associated with these expansions is high value