£1.25 million of Government money goes to GE Aviation
PUBLISHED: 09:21 02 November 2012 | UPDATED: 22:16 20 February 2013
GE Aviation has won £1.25 million of the Government's £1 billion third round Regional Growth Fund towards a research facility on its Cheltenham site.
1.25 million of Government money goes to GE Aviation
GE Aviation has won 1.25 million of the Governments 1 billion third round Regional Growth Fund towards a research facility on its Cheltenham site. This is one of just six projects winning funding across the South West of England. The Governments Regional Growth Fund aims to create or safeguard thousands of jobs over the long term and leverage 6 billion of private sector investment. The 130 selected bidders to the fund will use public money to leverage private sector investment, were whittled down from an initial 414 applications through a competitive process.
Malmesbury-based Dyson is reported to have offered 3.5 million in funding for the development of new Dyson technologies.
Product leader for GE Aviation's Electrical Power business in the UK, Simon Linacre, said that he anticipated the research will lead to new products and be a catalyst for advanced technology in electrical power systems.
The company anticipates that up to 100 new jobs could be created over the next eight years as a result of the funding.