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Government and manufacturing industry commit £213m to supply chain initiative

The Department for Business, Innovation and Skills has announced that the government and manufacturing industry are jointly investing £213 million in a venture aimed at strengthening UK supply chains for the industry. In addition, the move will safeguard more than 16,000 jobs by creating 11,000 and protecting a further 5,000.

Illustrating the initiative's advantages, the National Aerospace Technology Exploitation Programme led by the Aerospace Growth Partnerships has already benefited from a £35 million investment by the scheme. Using the funds, it aims to tackle skills shortages and improve research and development in the sector, which will help create nearly 5,000 more jobs in the supply chain.

Another slightly more niche benefactor comes from a bid led by David Brown Gear Systems in Huddersfield, which will put the UK up with other world leaders creating large gearboxes for modern offshore wind turbines.

Deputy Prime Minister Nick Clegg, who announced the venture today (February 28th), said that boosting jobs and growth was his main priority when it came to improving the economy. He added: "This investment will secure Britain’s future as a world leader in industries like cars, where we have traditionally taken the lead, and new technologies such as wind turbine gears and semiconductor chips."

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Posted by John OakADNFCR-1617-ID-801549230-ADNFCR

28/02/2013