Business
Secretary Vince Cable today congratulated a local business and a
Government partnership in Lancashire for securing more than £9
million from the Government’s Regional Growth Fund.
Lucite International which designs, develops and manufactures
acrylic-based products was awarded £2.2 million in round two of
the Regional Growth Fund (RGF). The project, to install a fourth
production line facility at the company’s Darwen plant, will
protect and create a total of over 190 jobs with an additional 60
jobs created in the wider supply chain.
As part of his tour, Vince Cable also visited engineering
firm WEC Group, which has benefitted from Regenerate Pennine
Lancashire support – a local government partnership providing
business support and access to local grants.
Regenerate Pennine Lancashire have been awarded £7.5 million
from the Regional Growth Fund in round two to help manufacturing
enterprises in Lancashire. The funding is expected to create 3000
jobs in the Lancashire supply chain and help firms to bring
forward investment for expansion projects.
Business Secretary Vince Cable said:
“The Regional Growth Fund is doing a great job of supporting
business and boosting British manufacturing – particularly in the
North West. It was a pleasure to meet staff at Lucite
International and see the construction of their new production
line. I am confident that their new facilities will help them
expand their UK production and create more jobs for the area – key
objectives of the Regional Growth Fund.
“My visit to WEC Group shows the role that Government
partnerships can play in helping manufacturing and local
enterprise. Regenerate Pennine Lancashire clearly have the right
knowledge and expertise to pick those firms that, with a bit of
help, can attract private investment and unlock growth for the
future. I look forward to seeing what other projects will benefit
from their RGF award.
“The work of WEC Group also highlights the value of a skilled
workforce including local apprentices. As they have shown, British
manufacturing and quality engineering has a big role to play in
domestic and international markets. I wish them every success for
the future.”
Lucite International Materials EAME General Manager, Rowena
Sellens said:
“This investment reflects Lucite International's
commitment to world class competitive manufacturing in our Darwen
factory, which will ensure we maintain our leading European market
position. The RGF grant award was a critical factor in securing
the investment.”
Regenerate Pennine Lancashire Chairman, Dennis Mendoros said:
"The Regional Growth Fund will enable us to help
high-growth businesses like the WEC Group expand. This will allow
our businesses to compete on a national and international basis,
helping to create new jobs and opportunities for people as a
result."
WEC Group Director, Wayne Wild said:
“It is great news to hear that local companies will have the
opportunity to benefit from the Regional Growth Fund. The WEC
Group applied for similar funding a few years ago and we haven’t
looked back since! The £142,000 grant we secured helped us invest
in much needed extra capacity which has allowed us to create 40
new jobs in our Laser division and grow the business by over 30
per cent year on year. Investment is what guarantees
sustainability for manufacturing companies, and any initiative
aiming at boosting British Manufacturing should be praised.”
Notes to editors: 1. The Regional Growth Fund (RGF) is a
£2.4bn fund operating across England from 2011 to 2015. It
supports projects and programmes that lever private sector
investment to create economic growth and sustainable employment.
It aims particularly to help those areas and communities which
were dependent on the public sector to make the transition to
sustainable private sector-led growth and prosperity.
2. More information on the Regional Growth Fund can be found
here: http://www.bis.gov.uk/rgf
3. For more information about Lucite International please
contact Gemma Blake at 01254 874387 or visit http://www.luciteinternational.com/
4. WEC Group is an example of how firms in Lancashire could
benefit from RGF funding from Regenerate Pennine Lancashire. For
more information about Regenerate Pennine Lancashire please
contact Lucy at Blackburn Council or visit http://www.regeneratepl.co.uk/
5. For more information about WEC Group please contact
Jean-Yves Dziki on 01254 773718 or visit http://www.wec-group.com/
6. 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.
7. BIS's online newsroom contains the latest press
notices and speeches, as well as video and images for download. It
also features an up to date list of BIS press office contacts. See
http://www.bis.gov.uk/newsroom
for more information.
Contacts:
BIS Press Office
bispress.releases@bis.gsi.gov.uk
Ed Smith
Phone: 020 7215 5945
ed.smith@bis.gsi.gov.uk