Companies in the South West area shared subsidies from the State’s Regional Growth Fund. Across the region, subsidies amount to £47 million for the next two years.
Regional recipients involve the University of the West of England, Cambridge Silicon Radio in Bradley Stoke and Anthony Best Dynamics in Bradford on Avon.
The loans had been announced through Steve Webb, Work and Pensions Minister, on a trip to Airbus in Filton. The jet-manufacturer previously acquired £1 mil through the grant towards training in the design, production, assembly and installing of airplane wings, assisting to grow the abilities of the Airbus workforce and creating or preserving more than 200 positions.
Webb explained: Organizations within the South West are already utilising the contribution of regional capital and this is helping to establish extra jobs for local people.
“It’s fantastic to see the way Airbus are developing on their own work to boost aviation training and skills and secure Great Britain as the biggest aviation manufacturing centre in Europe.”
Airbus senior engineering director Matthew Orchard reported: “The regional growth funding has secured our standing and future as being a leader in aerospace design. This certainly highlights the value of the Airbus Filton facility.”
Space company Goonhilly Earth Station shall partake in the £47 mil, the deputy prime minister Nick Clegg has unveiled.
Avanti Communications Group plc, that also shares the Goonhilly estate, will also obtain financing. The finance comes from the Regional Growth Fund to help companies in the region.
Ever since Clegg established the fund in 2010, a total of £240 million was invested in 50 projects across the Region, that will create or safeguard around 51,000 local jobs and draw in about £900 million of additional investment by the private market.