Companies can now bid for a share of £100 million from government’s Advanced Manufacturing Supply Chain Initiative (AMSCI) to help strengthen domestic supply chains and entice mew manufacturers to the UK.
The funding will provide companies with research and development support, skills training, investment capital and encourage major new suppliers to ‘reshore’ in the UK.
Five previous rounds of AMSCI funding have secured almost half a billion pounds of government and industry investment for 44 projects in the UK.
Business Secretary, Vince Cable said, “A strong manufacturing sector is vital to a balanced economic recovery, and I want to ensure that Britain’s supply chains are up to the task of supporting the sector in the long term.
“Our industrial strategy, which has given business the confidence to invest, is paying dividends in the reshoring we have seen so far. We will continue to support businesses to secure more highly skilled jobs and a stronger economy.”
The manufacturing sector supports two and a half million jobs and contributes almost £140 billion a year to the UK.
Full competition details and information can be found on the AMSCI 2014 website.