£16.6m JLR grant to bring 200 jobs
Up to 200 highly-skilled engineering and manufacturing jobs will be created in the Midlands after the Chancellor pledged £16.6 million to form a new team led by Jaguar Land Rover.
As he visited the JLR Manufacturing Centre on the outskirts of Wolverhampton, George Osborne said the grant would help develop a 'more efficient transmission system' for potential use in future models of JLR cars.
The good news comes after it emerged that new investors had taken over a section of the troubled steel giant Caparo in the Black Country, saving jobs.
A total of 300 jobs have been saved at Caparo Tubular Solutions, which has plants in Bilston and Oldbury.
Mr Osborne's visit to JLR today is his second appearance in the West Midlands in recent weeks, following on from his announcement of devolved powers to the region's combined authority.
Announcing the £16.6m grant today, he said: "I'm determined to build on the success of Britain's Engine for Growth in the Midlands, and today's announcement is a crucial step in our plan.
"This grant is a further example of how this Government is backing businesses in the Midlands to grow and create jobs and support working people at every stage of their lives." He added the grant would be matched by private funding, bringing the total to over £33m.
Labour MP for Wolverhampton North East, Emma Reynolds, said: "I welcome any additional investment into Wolverhampton.
"I'm proud that JLR chose Wolverhampton and recently decided to double its investment. There is confidence in the city and confidence in the West Midlands."
The cash will create an initial 60 roles in research and development, and if successful could lead to the creation of a further 130 manufacturing and engineering roles.
The new funding will also ensure the security of a further 150 roles.
Dr Wolfgang Epple, director of research and technology, at JLR, said: "
This approach is helping to develop the skills and technologies that will make the UK even more competitive."
On Saturday administrators at PwC announced that Caparo Tubular Solutions had been bought the Gupta family, which manages metals group Liberty House. The deal brings the number of jobs saved since the firm went into administration to 488.
