A report highlighting the successful performance of the Advanced Manufacturing Supply Chain Initiative (AMSCI) and seeking approval for Birmingham City Council to extend its role as the accountable body by a further two years has today been approved by cabinet.
Covering both regional and national programmes and funded through the government’s Regional Growth Fund, AMSCI has so far committed £275.9 million towards funding 74 projects. Many of these projects are made up of consortia of businesses, meaning that the total number of businesses benefitting from this funding is 376, of which the majority are small and medium-sized enterprises.
Additionally, these 74 projects have already created and safeguarded 3,883 jobs and are expected to meet the current total jobs target of 11,904. Of these, six businesses based within the Greater Birmingham and Solihull Local Enterprise Partnership area have been allocated £3.826 million of funding and are expected to create and safeguard 414 jobs.
As well as extending the council’s role as the accountable body for a further two years, up to 31 March 2019, cabinet is also being asked to approve the extension of Finance Birmingham’s role as delivery partner for AMSCI for the same period.
Councillor Tahir Ali, cabinet member for development, transport and the economy, said: “The AMSCI programme has achieved national recognition for Birmingham, with the Government indicating that they are very pleased with the way Birmingham City Council and Finance Birmingham have managed and delivered it.
“This has led to the Government asking us to extend our role as accountable body for a further two years, enabling us to continue building on our success.”