Into Somerset welcomes jobs boost following 340 million pound Airbus investment

Somerset’s aerospace and advanced engineering sector is to receive a welcome boost following a Government pledge to invest up to £340million in Airbus A350 XWB long-range aircraft.

The investment in design and development of Airbus' new carbon-fibre wide-body aircraft could secure 1,200 direct jobs – including some in at GKN’s Somerset-based factories, plus another 3,800 jobs in the UK supply chain. The loan was announced by Business Secretary Peter Mandelson.

Rupert Cox, Interim CEO of inward investment body Into Somerset, which promotes the aerospace and advanced engineering industry as a key sector for growth, says, “The investment will help preserve vital employment both directly and in the supply chain, particularly in South Somerset where there is a cluster of world-class companies supporting manufacturing in the aerospace sector.

“Bearing in mind the highly-skilled nature of aerospace and advanced engineering and its exacting standards, there is both a national and worldwide demand for Somerset’s aerospace and advanced engineering expertise.”

The loan is one of the largest-ever industrial investments made in the South West. Jane Henderson, Chief Executive of the South West Regional Development Agency, says: "We are delighted this globally significant project is moving forward. It will keep the region at the forefront of technological innovation in this key sector. 

"We are especially pleased that the new aircraft will use lightweight carbon composite materials, helping the sector achieve a significant reduction in carbon dioxide emissions. The Agency has played an important role in supporting research and development into composites that will be directly utilised in this project."
 
Composites are both very strong and lightweight, which result in fuel savings and other environmental benefits.
 
In July, South West England was named Britain's first Low Carbon Economic Area, reflecting its potential to develop globally competitive green industries and to re-tool its traditional industries for a sustainable future.

Into Somerset, promotes Somerset as a thriving business location where ‘you and your business can grow’. It is funded by the local authorities and chaired by Honor Chapman CBE, the first CEO of Think London, the Capital’s official foreign direct investment agency. Honor lives and farms in Somerset, while maintaining business interests around the UK.

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Press information:
For press information please contact Rupert Cox on +44 (0) 01823 444924 or Adrian Bishop at ADPR Ltd, Tel: +44 (0) 1460 241641 or e-mail adrian@adpr.co.uk

This press release is available from ADPR’s online pressroom – www.adpr.co.uk

August 09 (PR34)