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4 March 2013 | Adam Leach
The UK manufacturing supply chain has received a £213 million boost to protect jobs and drive growth after the government and industry linked up to support the sector.
The joint investment, with £73 million in government funds via the Advanced Manufacturing Supply Chain Initiative and the remainder coming from private industry investment, will support innovative projects from UK firms.
Projects receiving funding include the Aerospace Growth Partnership, which aims to address skills shortages and increase collaboration in the UK aerospace sector, forecast to create 5,000 jobs. David Brown Gear Systems also received funding to aid the development of large gearboxes for offshore wind turbines.
Nick Clegg, deputy prime minister, said in a statement: “Boosting jobs and growth is my number one priority to build a stronger economy. 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.”
The government also announced separate funding through the regional growth fund (RGF) for Aston Martin. The company will receive £1.6 million to enable it to preserve and create new UK jobs for the production of its Rapide S model.
Ulrich Bez, CEO of Aston Martin, said: “The RGF backing has helped us to bring production of the new Rapide S back to the Midlands. We are looking forward to support from the government for our future significant investment plans, which will help to safeguard existing jobs and create more.”