Cash injection safeguards Sussex jobs

5:20pm Friday 19th October 2012 in News By John Keenan, business editor

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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Comments(5)

Dirk Von Roden says...
1:00am Sat 20 Oct 12

Now can we see what both of these companies either donate to the government or what links they have with ministers??? or am I just being cynical???

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Morpheus says...
9:33am Sat 20 Oct 12

Government money is never spent well. We have a history of supporting private companies that have no future. I hope this is not going the same way.

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csiiscool says...
9:40am Sat 20 Oct 12

Why was not done for woolworth all the years ago when they had money problem and had to close all their stores, it look likes the government only do it for companies they love or have interest into,

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Cash Bull says...
4:55pm Sat 20 Oct 12

csiiscool wrote:
Why was not done for woolworth all the years ago when they had money problem and had to close all their stores, it look likes the government only do it for companies they love or have interest into,
or CERES Power in Horsham......

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chittaranjan says...
7:25am Mon 22 Oct 12

Really very nice word " High quality employment opportunities in this nationally important sector, many of such jobs being in support of export customers.” Is there any opportunity in maritime industry ?

Thanks
http://www.maritime-
connector.com/

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