Some of the County’s expanding businesses are creating more jobs and boosting productivity as a result of the £2million Worcestershire Growth Fund.
The fund is a capital grant scheme financed by the Worcestershire Local Enterprise Partnership through the Government’s Growth Deal and delivered by Worcestershire County Council to support the growth of Worcestershire businesses.
One of the businesses who were able to gain funding from the Growth Fund includes Wickens. Worcester-based Wickens is a leading industrial racking manufacturer based in the UK with the ability to design, manufacture and install bespoke storage solutions.
Worcestershire Growth Fund allowed Wickens to invest in new equipment and consequently offer an enhanced product with a competitive edge in the market. Wickens invested a total of £80,000 as part of the scheme and received match funding from Worcestershire Growth Fund.
Wickens’ new equipment enabled the business to boost productivity, sales and employment with the addition of a further 7 members of staff.
Steve Wickens, Managing Director of Wickens Ltd, said: “Worcestershire Growth Fund enabled us to purchase new equipment and strengthen our competitive edge in the global market by boosting productivity. The investment will enable us to create seven additional jobs and to continue our business growth.”
Gary Woodman, Chief Executive of the Worcestershire Local Enterprise Partnership, added: “Numerous businesses have benefitted from the Worcestershire Growth Fund and this will certainly help to strengthen the local economy. It is important that we give our local companies the opportunity to continue to grow and Wickens have been able to do just that, by creating jobs and boosting productivity.”
Cllr Dr Ken Pollock, Cabinet Member with Responsibility for Economy, Skills and Infrastructure at Worcestershire County Council, added: “Wickens is one of a number of businesses that have been able to expand following grant support. Their visible business growth after receiving the investment demonstrates just how valuable the Worcestershire Growth Fund has been in providing local businesses with the support needed to modernise and create jobs.”
The Growth Fund followed the success of similar programmes such as the Worcestershire Expansion Programme which supported 22 businesses with grant funding of £2,269,693 levering £13,747,345 from the private sector and creating 225 jobs whilst safeguarding a further 99 positions.
For further information on the Worcestershire Growth Fund, visit the Worcestershire Business Central website.
Pictured: Wickens has been able to invest in new machinery as a result of the Worcestershire Growth Fund.