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Cash injection safeguards Sussex jobs
Two Sussex companies will receive a cash injection to safeguard jobs.
Ricardo UK in Shoreham and Sea Change Sussex in Hastings will share £16 million from the Government’s Regional Growth Fund.
Martin Fausset, Ricardo UK’s managing director, said the funds will help the engineering company compete on the world stage.
He said: “Ricardo is a world leader in the development of the type of clean, low carbon automotive technology that will enable the next generation of road vehicles to have lower emissions and be more fuel efficient than ever before.
Employment opportunities “The funding for the development of our state of the art Vehicle Emission Research Centre will enable Ricardo to continue to lead the world’s auto industry in this vital area and in doing so create and sustain high quality employment opportunities in this nationally important sector, many of such jobs being in support of export customers.”
Sea Change Sussex, a not for profit economic development agency, has |a ten-year development programme focused on Hastings and Bexhill.
It aims to help create 6,000 jobs during the next decade by developing business parks in the two towns.
Deputy Prime Minister Nick Clegg said: “This cash injection is part of a major Government drive to create and protect thousands of jobs that will last in the parts of the country where they’re needed most.
“For too long the UK economy has been focused on the City of London, ignoring places where business can thrive.
“The Regional Growth Fund taps into that potential, so that places like Shoreham and the surrounding area can benefit.
“The Regional Growth Fund is working, on track and supporting businesses to create jobs and grow the economy.”
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