BOLTON is set to share in a massive multi-million pound economic bonanza from Europe.

Town halls throughout the North West were celebrating today after hearing the region has been awarded a £300 million grant over the next four years.

About £170 million will be used to fund projects designed to increase economic regeneration in the ten local authorities in Greater Manchester.

Private and public sector backing is expected to bring the total investment package in Greater Manchester to £600 million.

Now Bolton will have submit bids try and win a share of the cash allocated under the European Structural Funds Objective 2 Programme for deprived areas.

The money will be used to create and support small and medium sized businesses, encourage industries of the future and stimulate tourism and cultural works.

Previous projects backed by the last regional development programme include the Middlebrook development, the East Lancashire Railway and the Lowry Centre in Salford.

The £300 million was awarded to Greater Manchester, Cheshire and Lancashire who joined forces to put in a joint bid to strengthen their chances of winning the money.

Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.