Seven nationwide commercial properties will benefit from a new six year scheme, which costs approximately £140 million. This scheme hopes to create new engineering and manufacturing innovation technology to help boost the economy.
Dr Vince Cable, Business Secretary expressed, “Manufacturing has a key role to play in economic growth and rebalancing the economy, in particular driving exports and productivity.”
“The Government is supporting manufacturing through a modern industrial strategy fit for the 21st century,” Dr Cable went on to say.
The commercial properties that will benefit from the scheme are:
James Newman, Chairman of Sheffield’s Local Enterprise Partnership believes the scheme will, “strengthened the City Region’s argument for becoming the home of a National Advanced Engineering and Manufacturing Growth Hub.”
Tim Chapman, AMRC spokesman highlighted that, “The High Value Manufacturing Technology and Innovation Centre (TIC) brings together individual centres of collaborative research to create something even greater than the sum of its parts – a single network covering high-value sectors from pharmaceuticals to power generation, where knowledge gained in one area can be transferred to others.”
“The TIC funding allows the established AMRC to work more closely with other leading centres of manufacturing research around the country, to better share knowledge and resources.” Mr Chapman added.
With young unemployment levels at an all time high, will this new scheme create new jobs that will keep redundancy at a distance? To help with this issue, the Government has launched a scheme called, ‘See Inside Manufacturing’, which intends to help industrial commercial properties to recruit young people and to develop new skills that they need to remain in this growing manufacturing industry.
That is not all the Government is doing to ensure that the manufacturing industry has all the resources that it needs to move forward. The Technology Strategy Board is running a contest called, ‘Technology Inspired Innovation’ which supports the development of new technologies and breakthroughs within this sector. Examples include:
The Technology Strategy Board has also formed a partnership with the Office for Low Emission Vehicles to offer funding of £15 million. This money will help the department to research new developments into the manufacturing of low carbon emission vehicles, which the Government hopes that every vehicle will be developed into one day.