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Centre of the UK’s world-leading HPT cluster   You are here: Home » Blogs Detail

2nd July 2014

Mark Hillier

Northamptonshire has targeted itself with the creation of 1,600 new businesses and 32,500 new jobs by 2021

This week is Grand Prix Week – celebrating 50 years of the Grand Prix at Silverstone and the tremendous impact of Northamptonshire’s motorsport heritage and High Performance Technologies (HPT) sector on the county’s economy.

Northamptonshire is at the centre of the UK’s world-leading HPT cluster incorporating Motorsport, Automotive, Aerospace, Defence, Energy and Environmental Technologies. With a network of over 1,000 HPT businesses, the county has developed a comprehensive industry supply chain that contributes £2.1 billion to the local economy and is characterised by small, technology-rich engineering companies.

Over 21,000 people are employed across the county in industries that specialise in the design and manufacture of innovative technologies, engines and products including low carbon engineering and the application of advanced materials and composites.

Key employers include Mercedes AMG High Performance Powertrain, Cosworth, Scott Bader, Mahle Powertrain, Fairline, Cummins Engines, Ilmore Engineering, Sahara Force India Formula One Team and Mercedes AMG Petronas F1. Cosworth is investing £20 million in a new manufacturing facility in 2014 creating 70 jobs directly and an estimated further 200 jobs in the local supply chain.

Northamptonshire has targeted itself with the creation of 1,600 new businesses and 32,500 new jobs by 2021. Developing new and successful initiatives to help support start-up companies from the earliest stages of advancement and beyond is part of this development strategy and includes a number of dedicated funding streams.

Earlier this year for example, NEP and SEMLEP recently announced a new fund of £4 million for the Northamptonshire HPT network and adjoining South East Midlands area. The HPT R&D Investment Programme remains open to businesses based in Northamptonshire and the adjoining South East Midlands area. The programme will leverage a further £12 million in private sector investment and create 500 jobs by March 2018.

All you need to know can be found HERE:
www.homeofmotorsport.co.uk

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