<p>The Spending Round (SR) underlines Government's commitment to devolve economic powers to local areas. It recognises the role local enterprise partnerships (LEPs) have to play in promoting local growth, by giving LEPs control of at least £2 billion a year through the Local Growth Fund (LGF) for the life of the next Parliament, and over £5 billion of European structural and investment funds to allocate for the period 2014-20. In addition to this, the SR announced further funding for the Regional Growth Fund (RGF) in 2015-16 and 2016-17. Up to £300 million funding is available now through Round 5 of the RGF to private sector bidders to create sustainable economic growth and jobs. Round 6 will launch in summer 2014.</p><p>Through the RGF programme, the following has been awarded to the north-west and Rossendale and Darwen parliamentary constituency:</p><p>North West</p><p>Awards in Rounds 1 to 4: 83</p><p>Value of awards in Rounds 1 to 4 (£ million): 430</p><p>Private sector investment in rounds 1 to 4 (£billion): 2.4</p><p>Jobs to be created and safeguarded in Rounds 1 to 4: 92,000</p><p>Rossendale and Darwen parliamentary constituency</p><p>There has been one specific RGF award in the constituency: £2.2 million to Lucite International in Round 2.</p><p>The constituency is also covered by the Regenerate Pennine Lancashire programme which received £7.5 million in Round 2 to help small and medium-sized enterprises create manufacturing supply chain jobs. The programme was selected for additional support in Round 4 on 11 July 2013 and has a conditional offer that is subject to due diligence.</p>