Government minister Don Foster visited two firms which have benefitted from the government’s Regional Growth Fund (RGF).
Mr Foster visited Xamax Clothing in Ossett after the firm received £18,000 from the Leeds City Region Local Enterprise Partnership Business Growth Programme.
The company, which produces work and school wear, installed a new floor, increased production capacity and created an extra two jobs with the money.
The programme has seen £15m invested into four projects across Yorkshire.
Mr Foster also met staff at printing firm AJS North in Featherstone.
AJS relocated from Littlehampton, in West Sussex, to Featherstone after receiving £371,000 from the fund.
Mr Foster, deputy government chief whip, said: “I am delighted to see the impact the Regional Growth Fund is having.
“As a government, we have been striving to rebalance the economy away from London and away from the financial sector, in order to avoid a repeat of the economic crash in 2008.
“It is projects like these in Wakefield that demonstrate the real, tangible jobs and growth delivered by the RGF.”
The latest round of funding is expected to raise £120m of private investment as well as creating new jobs across the county.
Deputy Prime Minister Nick Clegg said: “Yorkshire has seen major benefits from the Regional Growth Fund already and the £15m investment is making sure the recovery is sustainable and balanced across the country.
“We’re seeing very encouraging signs that the British economy is on the road to recovery. Home-grown and British-based businesses are leading that charge for a stronger economy and the RGF gives businesses a helping hand to fuel business expansion and create sustainable employment.”
The next round of the Regional Growth Fund will open for applications in the summer.
For more information visit www.gov.uk/understanding-the-regional-growth-fund