Applications to the value of £90 million have been received by the City Council in the first bidding round of an initiative to help manufacturing supply chain firms grow.
Businesses are now being encouraged to apply to the second round of the government's Advanced Manufacturing Supply Chain Initiative (AMSCI).
Successful applicants for the AMSCI will receive a grant or loan to existing supply chains to grow, or to encourage new suppliers to establish operations. The scheme aims to improve global competitiveness of advanced manufacturing supply chains.
Applicants for the £125m fund – supported by the Regional Growth Fund – will be part of a competitive process in order to gain financial support.
Birmingham City Council will be responsible for monitoring the outcomes of the financial support received by the winning businesses.
Successful applicants in the manufacturing business who receive funding to expand their plans will help lead to future jobs in the supply chain. This will create more employment opportunities, as an increase in staff will be needed to deal with the demand of the work generated.
Sir Albert Bore, Leader of Birmingham City Council, said: “It's fantastic to receive such a high number of applications from businesses with exciting expansion plans that are planning to improve their capacity and create new jobs.
“With round two of the bidding competition closing in September, I would urge businesses to register their interest and submit their applications well in advance of the deadline.”
Manufacturing companies interested in increasing their business with the help of a grant or funding should register their interest at – http://www.innovateuk.org/content/competition/advanced-manufacturing-supply-chain-initiative.ashx
For more information contact Karen Blanchette on 0121 303 6969.
Notes to editors:
â€¢ The closing date for applications to be considered for the round two AMSCI funding is 12pm on 12 September 2012.
â€¢ All winning bids from round one will be announced during the autumn.