£100m fund will support supply chain reshoring
The government is offering £100million worth of support to help UK manufacturers reshoring work to the UK.
The new funding was announced by Business Secretary Vince Cable, pictured, at MACH last week.
He 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 scheme aims to re-build Britain's manufacturing prowess. Four previous rounds of funding have secured nearly half a billion pounds of public-private investment to 44 projects, directly creating or safeguarding more than 15,000 jobs.
Terry Scuoler, chief executive of manufacturers' organisation, the EEF, said: "This is another welcome boost for British manufacturing, which will have a positive impact on the wider economy.
"High value manufacturing creates jobs and wealth here so I'm delighted to see the government getting behind it."
Companies across England looking to bid for funding will be able to do so later in the year.
