NEPIC smashes the £1bn barrier
A North East group that represents the chemical and process industries has contributed more than £1 billion of added value to the regional economy.
NEPIC has now generated over 166 times the investment made into its activities, providing a significant boost to the regional economy and the UK PLC as a whole.
By working closely with private and public sector partners, the Cluster has helped to win new investments that have secured or created an estimated 3,364 jobs.
This performance has helped the organisation grow to 550 members in less than six years.
Stan Higgins, Chief Executive of NEPIC, said: “A key part of our success has been bringing together the huge pool of talent that exists in the North East and using this to help attract investment into the region.”
“It is doubtful whether any other industry-led organisation can match our success rate or the value for money that we offer to the UK economy.”
According to research undertaken by the Chemical Industries Association in conjunction with the Office of National Statistics, each job in the process sector in the UK generates more than £92,000 per annum of value to the UK economy, around 25% more per job than other high earning sectors such as Aerospace.
This was posted in Bdaily's Members' News section by Ruth Mitchell .