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Regional business set to benefit from £14.2m funding

The NECC has welcomed news that North East businesses have secured over £14.2 million of private sector and government investment from the Regional Growth Fund.

Nick Clegg was in the region on Friday to announce the news, visiting Proctor & Gamble in Newcastle, Chirton Engineering North Shields and Alnmaritech in Blyth.

The investment will create 91 jobs at the three companies as part of a funding initiative to boost regional economic growth.

Mr Clegg pledged to ‘create long term jobs and long term growth’, and expressed his aim to mane the North East ’ a place to build and make things again’.

James Ramsbotham, NECC Chief Executive, congratulated the recipients of the successful RGF bids.

He commented: “This investment will support the creation of important skilled jobs in the region and enable each company to further enhance their already impressive operations.

“If we are to rebalance the UK economy, then the North East requires more investment of this kind into our innovative and pioneering businesses.”

The investment will create 91 jobs at the three companies as part of a funding initiative to boost regional economic growth.

Mr Clegg pledged to ‘create long term jobs and long term growth’, and expressed his aim to mane the North East ’ a place to build and make things again’.

David Vallely, senior procurement manager at Chirton Engineering was keen to express his delight at the news.

“It’s a fantastic opportunity for both Chirton Engineering and the North East, and we now need to expand rapidly, create more apprenticeships and invest further in the region,” he said.

“It’s also great to hear the government pledging to help businesses grow and mature, whilst also improving staff levels.”

A further 14 bids in the North East have also been approved, which will create and protect a combined total of 5,000 jobs. An additional 8,000 jobs will be created to support businesses’ supply chains.

The £1.4 billion Regional Growth Fund uses public money to create long-term sustainable jobs to boost local economies. The first round has awarded £450 million to 50 projects nationwide, and will create 127,000 jobs directly and indirectly.

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