Prime Minister unvails thausands of new jobs
Prime Minister David Cameron has announced more than £240 million of new investment across the UK that will create and safeguard 1,800 jobs.
UK and Welsh governments have also joined forces with leading aircraft manufacturer Airbus to announce a joint investment of more than £100 million into research, development and training which will ensure the UK continues to lead the world in aerospace.
Mr Cameron said: “This investment is a vote of confidence in our long-term economic plan and the jobs it will create and safeguard in Wales and across the UK means financial security for more hardworking families.”
Around £64 million of the £100 million plus investment will support research and development through the Aerospace Technology Institute on a range of projects aimed at streamlining manufacturing processes and developing new technologies.
A total of £48 million is being invested in a project at the Broughton plant in North Wales which will develop new systems and technologies for building aircraft wings.
The announcements follow a record year for investment in the UK during 2013 to 2014 with latest UK Trade and Investment figures showing more than 66,000 new jobs created or safeguarded – the highest since 2001 – and 10,000 in Wales alone.
The news comes as work begins on the first phase of a £250 million expansion at Dyson’s hi-tech facility at the Malmesbury site which will create up to 3,000 jobs.
Prime Minister David Cameron said: “Two months ago I hosted world leaders in Newport for the NATO Summit where we left united in purpose, with a stronger alliance, and better able to keep our people safe.
“Today’s investment summit, which will see more than 150 business leaders from international companies gather in Newport, is part of our plan to build on this legacy, attract trade and investment, and secure a brighter future for all of Britain.”
Trade and Investment Minister Lord Livingston said: “This summit provides a great platform to highlight opportunities across the UK. Inward investment to the UK is already at record levels with Wales in particular achieving strong growth.
“Investment is flowing from companies around the world into manufacturing, services and infrastructure reflecting the UK’s position as one of the best places to do business in the world.”