UK business secretary Vince Cable has set out the latest steps the Government is taking to support ‘reshoring’, backing an encouraging trend of manufacturers bringing jobs and production back to the UK from low-cost countries in the East.
He has announced the latest winners, including557 Clearview Traffic Group, GlaxoSmithKline, the 6982 Society of Motor Manufacturers and Traders and Cosworth, from a US$409 million government Advanced Manufacturing Supply Chain Initiative (AMSCI) which is helping to rebuild British manufacturing prowess.
Nine projects will receive US$215 million of support – US$88 million of government funding is leveraging in more than US$125 million of private money. The projects will directly create 1,369 jobs and safeguard a further 2,525. At least 57 SMEs are involved in the successful consortia. A wide range of key sectors from the government’s industrial strategy are represented, including automotive, construction, information economy and life sciences.
Clearview Traffic Group, with the support of a US$6.6 million AMSCI grant, is relocating manufacture of its intelligent solar powered road studs from overseas to Britain as part of a US$10 million project to streamline their supply chain, strengthen intellectual property and boost overseas sales. Working in partnership with two other British businesses, Zeta Specialist Lighting and AEV, the project will lead to 49 jobs being re-shored and 37 the safeguarding of existing UK jobs.
He has announced the latest winners, including
Nine projects will receive US$215 million of support – US$88 million of government funding is leveraging in more than US$125 million of private money. The projects will directly create 1,369 jobs and safeguard a further 2,525. At least 57 SMEs are involved in the successful consortia. A wide range of key sectors from the government’s industrial strategy are represented, including automotive, construction, information economy and life sciences.
Clearview Traffic Group, with the support of a US$6.6 million AMSCI grant, is relocating manufacture of its intelligent solar powered road studs from overseas to Britain as part of a US$10 million project to streamline their supply chain, strengthen intellectual property and boost overseas sales. Working in partnership with two other British businesses, Zeta Specialist Lighting and AEV, the project will lead to 49 jobs being re-shored and 37 the safeguarding of existing UK jobs.
