Nick Clegg, the Deputy Prime Minister, announced that 119 schemes across the country will receive a total of £950 million, including 22 schemes in the West Midlands which will receive £100 million between them.
Ministers say the cash will create or safeguard 3,900 West Midlands jobs directly, as well as 29,800 jobs in the supply chain.
The Post’s scheme is to receive £5 million, which will be distributed to other local employers.
Businesses will be invited to apply for smaller grants which are not available directly from the Government.
The minimum bid for Regional Growth Fund money is £1 million, but there have been complaints that this effectively excludes smaller firms which are unlikely to need such a large sum.