The money is to help them bring manufacturing back to the UK from China and other overseas locations.
The funding will provide research and development support, skills training, investment capital and encourage major suppliers to ‘re-shore’ in Britain. It comes from the Advanced Manufacturing Supply Chain Initiative (AMSCI).
Five previous rounds of AMSCI funding have secured nearly half a billion pounds of public-private investment for 44 projects in the UK, some of it in the lighting industry.
Business Secretary Vince Cable [pictured] told the press: ‘A strong manufacturing sector is vital to a balanced economic recovery, and I want to ensure that Britain’s supply chains are up to the task of supporting the sector in the long term.
‘Our industrial strategy, which has given business the confidence to invest, is paying dividends in the re-shoring we have seen so far. We will continue to support businesses to secure more highly skilled jobs and a stronger economy.’
Full competition details and information can be found at www.financebirmingham.com/amsci/2014
[Picture credit: Liberal Democrats / Creative Commons]