Milton Keynes firms set to receive £8.5 million to help engineer 108 new jobs – Milton Keynes MKWeb

Vince Cable

Business Secretary Vince Cable today 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.

During a speech today at EEF’s National Manufacturing Conference, the Business Secretary welcomed EEF research showing that 1 in 6 companies reshored production in the last three years and announced the latest winners from a £245 million government supply chain fund which is helping to rebuild British manufacturing prowess.

Nine projects – including two in Milton Keynes – will receive £129 million of support – £53 million of government funding is leveraging in more than £75 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.

Computerised Information Technology Limited, based in Milton Keynes, will be receiving £2.3million as part of a £3.3million project they are leading to develop a new computer controlled system to detect defects in 3D objects. This process will prevent waste, reduce product recalls, save companies money on materials costs and energy use and reduce carbon emissions. Up to 15 jobs will be created.

Ceravision Limited, based in Milton Keynes, will receive £6.2 million of government support as part of an £11.6 million project to work with a range of partners to develop a supply chain for the production of high efficiency plasma lighting which consumes 50% less energy than existing high power lighting products. This is expected to create 93 news jobs.

Business Secretary Vince Cable said:

“Britain is starting to win back business on the basis of hard headed business decisions based on quality and good performance. Through our industrial strategy the government is working in partnership with business to nurture these encouraging signs.

“Our backing for skills, apprenticeships, supply chains, innovation and new technologies are creating the right environment for business to invest here. The supply chain funding announced today is another practical example of intelligently targeted government support helping UK firms to keep ahead of the game.”

Tim Reynolds, CEO of Ceravision said:

“We are delighted to receive this endorsement for our technology from the Department for Business, Innovation and Skills. Our revolutionary DayNow® plasma lighting has been developed within the innovation centre at the famous Bletchley Park and is manufactured in Milton Keynes. The technology provides a global solution for high output lighting with significant energy savings and other benefits for the environment. Applications include industrial, horticultural, sports and entertainment lighting and ultraviolet sterilisation and curing. This award will enable us to further our relationship with British suppliers, continue to create British jobs and enhance British exports.”

Vince Cable also announced that Reshore UK is now operational. As announced by the Prime Minister recently in Davos, UK Trade & Investment (UKTI) are joining forces with the Manufacturing Advisory Service (MAS) and partners in the Scotland, Wales and Northern Ireland for this new one-stop-shop service to help companies bring production back to the UK.

Reshore UK provides a matching and location service, access to advice and support, with a named individual to help each company. It is already generating interest from businesses across the UK and beyond.