Nearly 500 jobs set for the Black Country following new investment
ALMOST 500 new jobs are set to be created in the Black Country after a £9.1m cash injection by the government.
Seven businesses across the area will benefit from the money, awarded as part of the second round of settlements from the Regional Growth Fund.
The successful businesses are: Angle Ring Co, Caparo Precision Strip, Pargat & Co, NDC Polythene, Thomas Dudley, Sun Solar Energy and Trac Group.
A total of 465 jobs are expected to be created as a result of the funding, the bid for which was supported by the Black Country Local Enterprise Partnership and Sandwell Borough Council.
Stewart Towe, chairman of the LEP, said: “This is fantastic news; it shows that there is real confidence in Black Country business growth. We are really excited that Government has recognised the contribution these businesses can play in growing the wider economy.”
The successful businesses will be expected to generate a further £44m investment themselves. In addition to the new jobs, the funding is expected to safeguard a further 200 posts during the lifetime of the projects.
The seven businesses will now have to undertake a process of due diligences where their future plans will be scrutinised by the Department for Business Innovation & Skills prior to final contracts being signed.
