Business Durham creates nearly 70 jobs with £500k local business investment
A Durham-based fund has announced that it has invested more than £500k in three businesses from across the county.
The County Durham Growth Fund, which was established in April 2019, is a £4.9m investment scheme overseen by Business Durham, and has so far helped to create 68 jobs in the county.
Bignall Group, an engineering firm based in Shildon, has secured a £35k investment to help modernise and update its current machine shop, as well as purchase new milling machinery to increase the firm’s capacity and help it expand into new markets.
Dyer Engineering has received a £475k investment to purchase a fibre lasing profiling machine and robotic welding units and cranes at its Annfield Plain premises to help increase its manufacturing capabilities to access new markets.
Consett-based Design X-Press plans to use its £50k investment to buy new print equipment to increase its capacity, improve efficiency and offer a broader range of services.
The investments are creating new full-time job opportunities at each business – eight jobs at Bignall Group, 54 jobs at Dyer Engineering and four jobs at Design X-Press.
Sarah Slaven, Business Durham’s interim Managing Director, said: “We are delighted to be able to fund these three businesses’ capital investment projects and help each of them to grow and achieve their ambitions.
“It is inspiring to see the County Durham Growth Fund attracting businesses which can help bring investment not just into the county, but the region as a whole.
“Each of these companies can make a real impact on our local economy and help boost job creation.”
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