Clegg to unveil £450m jobs boost - graduate jobs

Graduates looking to start a career in the increasingly tough labour market will be pleased to hear of a £450 million Government investment into business, which is expected to create or secure 100,000 jobs.

The money, from the £1 billion Regional Growth Fund chaired by former Cabinet minister Lord Heseltine, will support 50 bids from firms and partnerships with the aim of stimulating economic growth and creating new positions.

Nick Clegg and Lord Heseltine will visit to the North West to unveil the plans and meet one of the bidders for the cash.

The Government says the money will be used to create or safeguard as many as 27,000 jobs. And the knock on effect of such investment will be the firming up of thousands more posts and businesses linked to the bidders through the supply chain.

Some of the many projects to benefit from the funding include the development of a biomedical centre in Manchester from the site of a former eye hospital, the growth of a Haribo sweet factory near Wakefield, West Yorkshire, the construction Vivaro vans in Luton and the creation of a Teesside manufacturing plant.

Mr Clegg said: "I was bowled over by the quality of the bids. This money will now help create and safeguard jobs in some of the communities worst hit by the economic downturn.

"Today is a step towards rebalancing our economy away from an unhealthy over-reliance on a small number of industries and a few areas. We need to spread opportunity across the whole country, drawing on our many talents.

"I know that with the right support these businesses can work with their communities and together play their part in leading the country back into prosperity."