Partner Article

Government pledges £80m to manufacturing supply chains

Manufacturing supply chains are set to receive an £80m investment boost from the Government’s Advanced Manufacturing Supply Chain Initiative (AMSCI).

More than 2,160 jobs will be created or protected by the joint public and private sector investment, and manufacturing projects will be financed and supported by the scheme.

The Government has offered up approximately £30m while the remaining £50m has been provided by private companies.

AMSCI, which announced its first round of £125m investment in March this year, gave funding to 11 manufacturing supply chain projects in the UK.

These schemes are all pivotal areas for the Government’s industrial strategy, and were the successful bidders from the first round of AMSCI funding in March this year.

Projects that will receive a share of the £80m investment will include businesses in the aerospace, automotive and chemical sectors.

Business Secretary Vince Cable said: “Over half the UK’s exports and almost three quarters of our business research and development activity is in manufacturing, so it’s vital that we create the right conditions to encourage growth in the industry.

“The successful applications in AMSCI Round 1 represent a high quality of projects that bring together businesses and forge new partnerships across various supply chains that will strengthen our presence in Europe and the world.

“Through this initiative Government and industry can work together to help UK supply chains become more globally competitive, and plug the gaps that act as barriers to efficiency and expansion.”

Some of the successful bidders include a manufacturing proving firm in Yorkshire that produces low carbon technologies, a Tees Valley bio-process manufacturing capability venture, and a West Midlands-based automotive supplier.

The AMSCI is partly funded through the Regional Growth Fund and is provided through a partnership with the Technology Strategy Board and Birmingham City Council.

Leader of Birmingham City Council, Sir Albert Bore, said: “Working in this new partnership has been ground-breaking.

“We are making use of new legislation which gives local authorities the powers for the first time to operate outside their region at a national and even an international level. We hope this will be a model BIS and central government will use again.”

This was posted in Bdaily's Members' News section by Miranda Dobson .