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Heat Trace awarded £182,000 Grant for Business Investment
8th July 2010
The Northwest Regional Development Agency (NWDA) has awarded a £182,000 Grants for Business Investment (GBI) to Heat Trace Ltd based in Frodsham.
Heat Trace Ltd specialise in the development and manufacture of electrical trace heating cables and systems, which are used for heating and maintaining temperatures in pipelines, tanks, vessels and pipeline equipment.
The Grant will enable the company to establish a second production facility, based in Bredbury. This will permit the company to develop and produce the necessary equipment to maintain the temperature of liquids in pipes and tanks.
This Grant will protect 16 jobs at Heat Trace, as well as creating 33 new roles over the next 3 years.
Steven Broomhead, Chief Executive, NWDA said:
"We are pleased to provide Heat Trace with the necessary means to develop and grow as a business. It is vital that in the current economic climate, we do our best to help our regional economy recover and grow".
Neil Malone, Chairman of Heat Trace, said:
"The potential for establishing a second low cost facility in China was economically very attractive. However, this grant determined the outcome. I believe that the incentives available for our R & D must be backed up by similar capital grants such as this. This is the right way to safeguard and create future jobs. The worry is that, in a climate of austerity, the government will see the cutting of such grants as an easy option. This would be the death knell for a lot of UK manufacturing"
The NWDA is playing a crucial role in response to the current economic downturn, with a number of actions being taken to meet the needs of businesses during these challenging times. To keep updated on the range of support being offered by the NWDA visit www.nwda.co.uk/supportingbusiness
For further information on business support in England's Northwest go to www.businesslink.gov.uk/northwest
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Notes to editors:
For further information please contact Shelley Tattersall, Press Officer on 01925 400256 or mobile 07500 128482 or shelley.tattersall@nwda.co.uk for urgent out of hours press enquiries please call 01925 400259.
The Northwest Regional Development Agency (NWDA) works to deliver economic success in England's Northwest by building the competitiveness of its businesses, people and places. Utilising our technical expertise and strategic influence, we help the region's 250,000+ businesses to develop and grow, as well as supporting international trade and encouraging inward investment. For further information and to view previous press releases visit us at www.nwda.co.uk/press
