A £19m programme to support companies in the automotive and aerospace supply chains in the West Midlands has today been announced.
The West Midlands and Liverpool City Region Programme forms part of the Advanced Manufacturing Supply Chain Initiative (AMSCI), a £125m national programme launched in April 2012 to improve the global competitiveness of the advanced manufacturing supply chain.
The programme will provide loans and grants to manufacturers to pay for capital equipment as well as working capital, R&D activity to improve manufacturing processes and training and skills development.
The scheme is managed by Finance Birmingham with Birmingham City Council as the accountable body and provides minimum funding of £100,000.
Paul Heaven, Greater Birmingham & Solihull Local Enterprise Partnership board director, praised the impact of the programme.
“The financial support the grants offer is crucial. It will encourage business innovation and ensure local manufacturing receives the support it needs to grow especially given the opportunity that investment by Jaguar Land Rover presents in our area.”
Birmingham City Council cabinet member Tahir Ali also praised the scheme.
“I have visited some of the local companies who are benefitting from this much needed cash injection.”
“These companies are at the top of their industries, experiencing growth, and eager to expand. The grants allow them to grow as part of the supply chain and will have a massive benefits for other companies in the manufacturing chain.”
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