Executive Briefings

Manufacturing Supply Chain Funding 'Will Create Thousands of Jobs' in UK

Deputy Prime Minister Nick Clegg announced £213m of joint Government and industry investment to strengthen UK advanced manufacturing supply chains "” creating over 11,000 new jobs and safeguarding another 5,000.

Over £73 million has been awarded from Round 2 of the Advanced Manufacturing Supply Chain Initiative (AMSCI) to 12 national supply chain projects, and a further £140 million will be invested by business.

Examples of winning bids include the creation of a "National Aerospace Technology Exploitation Programme" led by the aerospace growth partnership to address skills shortages and improve R&D collaboration in the aerospace sector. The £35 million project will create nearly 5,000 jobs in the supply chain. Another successful bid, led by David Brown Gear Systems in Huddersfield, will position the UK as a world leader in the creation of large gearboxes, for the next generation of offshore wind turbines.

"Boosting jobs and growth is my number one priority to build a stronger economy. This investment will secure Britain's future as a world leader in industries like cars, where we have traditionally taken the lead, and new technologies such as wind turbine gears and semiconductor chips," said Deputy Prime Minister Nick Clegg.

"Investing in the iconic Aston Martin means that our home grown expert engineers will make the Rapide S here, which is excellent news. The Regional Growth Fund is all about giving power to businesses and investing in projects that will have a long-term impact on local areas."

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Over £73 million has been awarded from Round 2 of the Advanced Manufacturing Supply Chain Initiative (AMSCI) to 12 national supply chain projects, and a further £140 million will be invested by business.

Examples of winning bids include the creation of a "National Aerospace Technology Exploitation Programme" led by the aerospace growth partnership to address skills shortages and improve R&D collaboration in the aerospace sector. The £35 million project will create nearly 5,000 jobs in the supply chain. Another successful bid, led by David Brown Gear Systems in Huddersfield, will position the UK as a world leader in the creation of large gearboxes, for the next generation of offshore wind turbines.

"Boosting jobs and growth is my number one priority to build a stronger economy. This investment will secure Britain's future as a world leader in industries like cars, where we have traditionally taken the lead, and new technologies such as wind turbine gears and semiconductor chips," said Deputy Prime Minister Nick Clegg.

"Investing in the iconic Aston Martin means that our home grown expert engineers will make the Rapide S here, which is excellent news. The Regional Growth Fund is all about giving power to businesses and investing in projects that will have a long-term impact on local areas."

Read Full Article