Tharsus has been successfully offered £690,000 from the Government’s Regional Growth Fund. The conditional grant will allow us the opportunity to create 80 jobs for local people over the next two years.
We applied for the funding to accelerate our emphasis on creating engineering and manufacturing partnerships with companies developing innovative new products. The grant is being used to support investment in new technology, creating 80 jobs and refurbishing our third 30,000 sq foot site which we plan to open early 2012.
The conditional offer will support our overall investment of around £3m that will ensure our Blyth and Hebburn sites have the high-tech equipment necessary to develop everything from prototypes to mass manufactured products. We expect the first claim will be made in January 2012.
The RGF application was successful in part because we teamed up with other SME manufacturing companies from the region. The successful bid collectively awarded £1.79m to companies in the North East, all of whom intend to create more jobs as a result.
Tharsus chief executive Brian Palmer said: “It’s extremely positive to be able to announce our success with the RGF bid, especially as South East Northumberland has taken some knocks recently, like the Alcan closure, and we are hopeful of being able to help some of those skilled people back into work. This significant funding will help us accelerate our expansion plans, create bright futures for some young people and help us capture a new marketplace, which is rife with opportunities.
“We will invest in our workforce, equipment and infrastructure to gear up for growth, as we are in the running for several large contracts that will require this increased capacity. Companies like ours need this type of support to be able to gear up for growth or we won’t compete globally to deliver contracts much needed here in the North East.
“As a virtual manufacturing arm for any company investing in product R&D our skilled engineering team can be working on anything from a touch-screen information unit through to a sizeable hydrogen generation plant for industry, so having the new technology and space to be able to take on any product is a huge advantage considering our new direction and business goals. This grant success is great news for us and the manufacturing scene as a whole in the region.”