Government investment boost for our area – Hunter

November 1, 2012 10:13 AM

Head and shouldersThe Regional Growth Fund is to invest in NXP Semiconductors based in Hazel Grove, it was announced last week. Local MP Mark Hunter welcomed the move as a "great boost to the local economy".

The announcement was part of the third round of investment totalling over £1bn from the central government. The Regional Growth Fund is overseen by Liberal Democrat Leader and Deputy Prime Minister, Nick Clegg and has already announced £2.4bn of new investment in the first two rounds.

NXP, which is based near Stepping Hill Hospital on Bramhall Moor Lane, is investing to create a leading centre for Power Semiconductors at its Hazel Grove base. The investment is centered on developing the next generation power devices using state of the art materials and will establish NXP's UK facility on the leading edge in the global power semiconductor market.

Commenting, Mark said:

"This announcement is another massive investment in new jobs for our local community. It is a vote of confidence in our area and a well-deserved boost for all the people involved in securing this investment. I have written to NXP Semiconductors to congratulate them on their successful bid.

"Instead of concentrating on the City of London like the previous government did, Liberal Democrats in the Coalition Government are doing everything possible to make places like Stockport the economic powerhouses they deserve to be.

"This is only one part of what the Coalition Government is doing: it has also set up a Green Investment Bank that will help create sustainable jobs, overseen an 80% increase in apprentices and given young people the chance to earn or learn through the £1bn Youth Contract."

Commenting further, Leader of the Liberal Democrats and Deputy Prime Minister, Nick Clegg said:

"This £1bn boost for growth in towns and cities across England is creating jobs that will last in the parts of the country that need it most.

"In tough economic times the Regional Growth Fund is good value for taxpayers' money - this £1bn round of the fund is pulling in £6bn of private sector investment.

"The Regional Growth Fund is working, on track and supporting businesses to create jobs and grow the economy."

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