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19/09/2011
New Engine Plant Will Drive UK Growth
Deputy Prime Minister Nick Clegg and Business Secretary Vince Cable have welcomed Jaguar Land Rover’s (JLR) announcement today that it plans to create 750 jobs at a new engine plant in Wolverhampton.
This project will bring a significant economic boost to the West Midlands with an investment of £355 million and will support the development of high value manufacturing and skills in the UK. It is also likely that the project will create many more UK supply chain jobs.
The Government is supporting JLR’s project through the ‘Grant for Business Investment’ scheme which is providing up to £10 million. We also recently announced that the proposed site of the new engine plant, known as the i54 site, will be part of one of the new Enterprise Zones set up specifically to boost local growth and attract new businesses.
Deputy Prime Minister Nick Clegg said: “Jaguar Land Rover’s decision to build its new engine plant in Wolverhampton is fantastic news.
“It means over 700 new jobs for local people, an investment of over £300 million in the West Midlands and recognition of the expertise in the British workforce and manufacturing sector.
“Growing our economy has to be the number one priority for Britain, and the Government is not sitting on its hands. With initiatives like the Regional Growth Fund, putting up to £10 million into this new plant and Enterprise Zones boosting growth across the country, we’re making the UK a better place to invest and do business.”
Business Secretary Vince Cable said: “JLR choosing Wolverhampton for its new engine plant in the face of tough international competition is a tremendous boost for manufacturing in the UK and the West Midlands in particular.
“This announcement sends out strong signals to potential inward investors across the world and is a huge vote of confidence in our successful automotive sector in the UK and the skills and expertise in our workforce.
Mr Cable added: “The Government’s support for this project shows we are committed to the ongoing success of UK manufacturing and the UK automotive industry, ensuring the UK remains one of the top destinations for inward investment.”
This investment is just one of a number of ways in which Government and industry are working together to grow the UK's competitiveness and performance.
(BMcN/GK)
This project will bring a significant economic boost to the West Midlands with an investment of £355 million and will support the development of high value manufacturing and skills in the UK. It is also likely that the project will create many more UK supply chain jobs.
The Government is supporting JLR’s project through the ‘Grant for Business Investment’ scheme which is providing up to £10 million. We also recently announced that the proposed site of the new engine plant, known as the i54 site, will be part of one of the new Enterprise Zones set up specifically to boost local growth and attract new businesses.
Deputy Prime Minister Nick Clegg said: “Jaguar Land Rover’s decision to build its new engine plant in Wolverhampton is fantastic news.
“It means over 700 new jobs for local people, an investment of over £300 million in the West Midlands and recognition of the expertise in the British workforce and manufacturing sector.
“Growing our economy has to be the number one priority for Britain, and the Government is not sitting on its hands. With initiatives like the Regional Growth Fund, putting up to £10 million into this new plant and Enterprise Zones boosting growth across the country, we’re making the UK a better place to invest and do business.”
Business Secretary Vince Cable said: “JLR choosing Wolverhampton for its new engine plant in the face of tough international competition is a tremendous boost for manufacturing in the UK and the West Midlands in particular.
“This announcement sends out strong signals to potential inward investors across the world and is a huge vote of confidence in our successful automotive sector in the UK and the skills and expertise in our workforce.
Mr Cable added: “The Government’s support for this project shows we are committed to the ongoing success of UK manufacturing and the UK automotive industry, ensuring the UK remains one of the top destinations for inward investment.”
This investment is just one of a number of ways in which Government and industry are working together to grow the UK's competitiveness and performance.
(BMcN/GK)
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