A Cheshire firm is expanding it specialist "trace heating" business thanks to a grant from the North West Regional Development Agency.
A £182,000 "Grant for Business Investment (GBI)" has gone to Heat Trace Ltd, based in Frodsham, and it will see existing jobs safeguarded and more than 30 new jobs created.
Heat Trace Ltd specialise in the development and manufacture of electrical trace heating cables and systems, used for heating and maintaining temperatures in pipelines, tanks, vessels and pipeline
equipment.
The grant will enable the company to establish a second production facility, in Bredbury, near Mancehster.
This will permit the company to develop and produce the necessary equipment to maintain the temperature of liquids in pipes and tanks.
This grant will protect 16 jobs at Heat Trace, as well as creating 33 new roles over the next 3 years.
Steven Broomhead, Chief Executive, NWDA said: “We are pleased to provide Heat Trace with the necessary means to develop and grow as a business. It is vital that in the current economic climate, we do our best to help our regional economy recover and grow”.
Neil Malone, Chairman of Heat Trace, said: “The potential for establishing a second low cost facility in China was economically very attractive. However, this grant determined the outcome. I believe that the incentives available for our R & D must be backed up by similar capital grants such as this. This is the right way to safeguard and create future jobs. The worry is that, in a climate of austerity, the government will see the cutting of such grants as an easy option. This would be the death knell for a lot of UK manufacturing”
The NWDA is playing a crucial role in response to the current economic downturn, with a number of actions being taken to meet the needs of businesses during these challenging times. To keep updated on the range of support being offered by the NWDA visit www.nwda.co.uk/supportingbusiness
For further information on business support in England’s Northwest go to www.businesslink.gov.uk/northwest
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