Deputy PM celebrates LEP funding success
Today (Friday 2 November), Deputy Prime Minister, and Liberal Democrat Sheffield Hallam MP, Nick Clegg visited William Beckett Plastics, one of dozens of companies set to benefit from the £25m of Regional Growth Fund (RGF) recently awarded to the Sheffield City Region Local Enterprise Partnership (LEP).
William Beckett Plastics is just one of a number of companies that is looking forward to benefiting from the fund, subject to due diligence. The business is forming a new company called Beckett MIM which has plans to exploit the huge potential of metal injection moulding titanium components for the aerospace industry and medical instrument markets.
Deputy Prime Minister Nick Clegg said:
“William Beckett Plastics is an example of the real difference that Regional Growth Fund money makes on the ground – allowing the company to invest in advanced machinery, grow their business and create jobs.
“I would like to congratulate the Sheffield City Region LEP on its success in the Government’s rigorous Regional Growth Fund bidding process, which scrutinised over 400 applications. The success of their programme bid reflects the economic potential of business in the Sheffield City Region.
“In tough economic times the Regional Growth Fund is good value for taxpayers’ money – in Sheffield City Region this £25 million programme bid will pull in £100 million of private sector investment and create 1,500 new private sector jobs.”
Beckett MIM plans to use RGF money to create a manufacturing facility to supply components to advanced technology markets. Managing Director William Beckett said:
“This is fantastic news for the city, fantastic news for the region and fantastic news for our company!”
Local businessman and LEP Board Member David Grey MBE played a key role in putting together the LEP’s successful programme bid. David said:
“This bid has been several months in planning and a lot of hard work has gone into getting it right – it brings together dozens of companies with robust plans for growth.
“It is now crucial that we focus on the delivery of this ambitious programme, and we look forward to working with our partners in local and national Government and businesses in the City Region.
“This programme will demonstrate how a small amount of funding can unlock significantly more direct private sector investment – leading to growth and sustainable, private sector employment.”