Manufacturing funding programme set to create 111 jobs
SME manufacturers in Derbyshire and Nottinghamshire have received a £500,000 support boost.
The Manufacturing Growth Programme (MGP), which has already supported over 600 companies in other areas of the East Midlands, has agreed a deal with D2N2 Local Enterprise Partnership to provide specialist assistance to firms in the two counties.
Management teams can now access a dedicated Manufacturing Growth Manager, who will use the GROWTHMapper benchmarking tool to identify pain points within the business, before delivering grants that can help support a third of the total cost of the improvement project up to a maximum of £10,000.
This new support covers manufacturing efficiencies, strategic marketing, new product development and leadership and management, with the programme due to help more than 85 business between now and June 2023.
It is anticipated that this manufacturing driven assistance will create 111 new jobs and 28 new product launches.
Martin Coats, managing director of the Manufacturing Growth Programme, commented: “This is excellent news for SME manufacturers in Derbyshire and Nottinghamshire and comes at a time when they need access to industry specialists to overcome issues around Brexit and Covid-19.
“We have proven how successful this type of support, delivered by experts from the manufacturing sector, can be in Leicestershire, Lincolnshire and Northamptonshire. Across these three areas we have created nearly 700 new jobs and completed 805 improvement projects, helping many firms fulfil their potential.”
He continued: “Thanks to the backing of the D2N2 LEP, we can now give this targeted assistance to companies locally, making sure they are competitive in the sectors they have an undeniable edge in, including aerospace, automotive, food and drink, medical and rail.
“Each project is tailored to the individual company, so it has the biggest impact. Our Manufacturing Growth Managers are also very well connected and can link in management teams to other business support, funding or even supply chain opportunities.”
Nottinghamshire-based Lindhurst Engineering, which employs 36 people and boasts annual sales of £3.5m, is one of the companies that has welcomed the support boost, citing the need for manufacturers to have tailored assistance that will allow them to scale-up.
The fabrication specialist produces mechanical and machinery components, heavy plate work, lifting equipment and small bridges and gantries, not to mention creating bespoke machinery for use in the construction sector.
“Manufacturing is such a vitally important industry in D2N2 and, as such, we need a support offer that understands our requirements and experts who can deliver knowledge that makes a real difference to our ability to compete globally,” pointed out Martin Rigley MBE, Managing Director of Lindhurst Engineering.
“The Manufacturing Growth Programme coming to the region means the right assistance will be available for us at the right time and I’m sure it will help many firms overcome the challenges of Brexit and Covid-19.”
Frank Horsley, head of business & innovation at D2N2 LEP, concluded: “We are delighted to support the extension of the highly successful programme into our region.
“Manufacturing remains the historic bedrock of the D2N2 economy. If we are to transform into a more competitive, but greener economy, our manufacturers will need support to embrace the challenges of industrial digitalisation and net zero so that, similar to the first industrial revolution, we can lead the world.
“We look forward to bringing our strategic influence and partnership network to bear to ensure our businesses have the opportunity to benefit from the excellent support MGP can deliver.”
The Manufacturing Growth Programme, which is funded by ERDF and delivered by Oxford Innovation Services, is open to all manufacturing SMEs in Derbyshire and Nottinghamshire that employ less than 250 people or have a turnover below £36m.