Deputy Prime Minister Nick Clegg will today announce £213 million of joint government and industry investment
- £213 million government and industry investment to strengthen UK advanced manufacturing supply chains, creating and safeguarding over 16,000 jobs
- Aston Martin begins production of ‘Rapide S’ in the UK supported by Regional Growth Fund.
Deputy Prime Minister Nick Clegg will today announce £213 million of joint government and industry investment to strengthen UK advanced manufacturing supply chains – creating over 11,000 new jobs and safeguarding another 5,000.
Over £73 million has been awarded from Round 2 of the Advanced Manufacturing Supply Chain Initiative (AMSCI) to 12 national supply chain projects, and a further £140 million will be invested by business.
Examples of winning bids include the creation of a ‘National Aerospace Technology Exploitation Programme’ led by the Aerospace Growth Partnership to address skills shortages and improve R&D collaboration in the aerospace sector. The £35 million project will create nearly 5,000 jobs in the supply chain. Another successful bid, led by David Brown Gear Systems in Huddersfield, will position the UK as a world leader in the creation of large gearboxes for the next generation of offshore wind turbines.
Deputy Prime Minister Nick Clegg said:
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.
Investing in the iconic Aston Martin means that our home grown expert engineers will make the Rapide S here which is excellent news. The Regional Growth Fund is all about giving power to businesses and investing in projects that will have a long-term impact on local areas.
Following the announcement – to be made at the government’s Manufacturing Summit at the Heritage Motor Centre in Warwickshire – the Deputy Prime Minister will be joined by Business Secretary Vince Cable to tour Aston Martin in Gaydon as the company marks its centenary year.
They will see production of the new Rapide S cars and announce support of £1.6 million from Round 2 of the Regional Growth Fund to develop the project and has helped to bring manufacturing back to the UK.
The move creates 20 new jobs and protects over 70 further roles at Aston Martin’s headquarters in Gaydon as well as at the new facility in Coventry.
Business Secretary Vince Cable said:
Aston Martin is an iconic British brand, so it should be made in the UK. Otherwise it’s like having champagne from Bulgaria or a Swiss watch built in Swaziland.
As we celebrate Aston Martin’s 100th anniversary, it’s encouraging to see the company investing in new technologies and creating valuable British jobs outside of London. This is exactly the type of high-value manufacturing that we excel at here in the UK. Our Industrial Strategy, which creates a joint business plan between government and industry, will ensure that we retain and grow these types of businesses in the long term.
Dr Ulrich Bez, Aston Martin CEO said:
Aston Martin celebrated its 100th birthday in January. This celebration will continue throughout the year with events around the world, communicating the success story, the values of Aston Martin and the best of British.
The RGF backing has helped us to bring production of the new Rapide S, which will make its public debut at the Geneva Motor Show next week, 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.
The third annual Manufacturing Summit brings together government and key industry leaders to discuss and debate progress, the upcoming challenges and next steps for the sector as the government continues to put manufacturing at the heart of its Growth Programme.
Notes to editors
- Advanced Manufacturing Supply Chain Initiative
- Business Secretary Vince Cable announced the creation of the Advanced Manufacturing Supply Chain Initiative (AMSCI) on 6 December 2011.
- Up to £125 million was made available through the initiative to improve the global competitiveness of UK advanced manufacturing supply chains.
- Following the closure of Round 1, companies were then invited to express interest in applying for funding via Round 2, which opened for applications in September 2012.
- Suppliers, including small and medium sized enterprises, were encouraged to submit joint proposals with a sectoral level impact to create world-class excellence in supply chains.
- All ‘winning’ projects from AMSCI Round 2 are subject to due diligence.
- Applications were assessed by the government’s Technology Strategy Board, which has a strong track record in supporting credible advanced manufacturing projects which leverage significant private investment and have buy-in from the prime manufacturers at the top of supply chains.
- The scheme was open to bids from all manufacturing sectors.
- The Chancellor announced an additional £120 million in the Autumn Statement 2012 for two further rounds of AMSCI funding.
- The Competition brief for AMSCI Rounds 3 & 4 can be found at www.innovateuk.org.
- A full list of AMSCI Round 2 successful projects can be found here.
- The government’s economic policy objective is to achieve ‘strong, sustainable and balanced growth that is more evenly shared across the country and between industries.’ It set four ambitions in the ‘Plan for Growth’ (PDF 1.7MB), published at Budget 2011:
- To create the most competitive tax system in the G20
- To make the UK the best place in Europe to start, finance and grow a business
- To encourage investment and exports as a route to a more balanced economy
- To create a more educated workforce that is the most flexible in Europe. Work is underway across government to achieve these ambitions, including progress on more than 250 measures as part of the Growth Review. Developing an Industrial Strategy gives new impetus to this work by providing businesses, investors and the public with more clarity about the long-term direction in which the government wants the economy to travel.