Partner Article

Funding boost for chemical industry

The North East’s process industries are being given access to new funding after their network was given over £1.5m by the region’s development body. One NorthEast awarded £1.65m to the North East Process Industry Cluster (NEPIC), aiming to ensure its growth over the next three years.

NEPIC provides over 500 of the region’s pharmaceutical, biotechnology, chemical and support companies with a network to share methods of best practice and allows its members to work together.

Stan Higgins, Chief Executive of NEPIC, said: “The success of NEPIC arises from the industry leadership of all its activities. By focusing our actions towards the growth needs of the sector, creating a learn-together culture and building the trust to share experiences, we have enabled our sector to demonstrate its true potential to be the power house of the North East economy.

“We have been able to identify a portfolio of £9 billion of potential investments for the region and to date have seen £7 billion of these opportunities captured. Industry leaders have advised us that this would not have been achieved without the creation of the cluster and its industry leadership.”

The aim of the funding is to help generate investment, attract more science-based companies into the region, improve manufacturing capability and raise the chemical industry’s profile nationally and internationally.

Ian Williams, Director of Business and Industry at One NorthEast, said: “The process industry is making a massive contribution to the region’s economy, with 20 per cent of the UK’s production capacity based here and five of the world’s leading speciality chemicals companies with significant assets here.

“The impact NEPIC has made since its launch in 2005 has been substantial, helping position the Tees Valley and the North East as a leading location for companies in the sector. This additional funding will allow even more growth, further boosting the region’s economy.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .