Sectors
Motorsport and High Performance Engineering News
- Silverstone secures Grand Prix in 17 year deal
- JENSON BUTTON TO APPEAR AT AUTOSPORT
- MIA secures support under BERR's Automotive Assistance Programme
- FANS FLOCK TO ROCKINGHAM FOR FREE BRITISH TOURING CAR CHAMPIONSHIP PREVIEW
- CHEVROLET CRUZE SHOWS GOOD PACE IN DEBUT
- FUTURE OF THE HONDA RACING F1 TEAM SECURED
- Comment on today’s Honda F1 news
- Silverstone unveils dynamic modifications to circuit layout
- Grand Prix Racewear under new management
- Damon Hill honoured by University of Northampton
- RML Win Business of the Year Award
- MIA secures UK government assistance package for motorsport industry
Invest DVD
Find out more about what Northamptonshire has to offer potential business investors with our Investor DVD
MIA secures support under BERR's Automotive Assistance Programme
MIA CEO Chris Aylett said: "This new scheme from BERR will help and encourage our larger UK motorsport companies move ahead with major investments, which may have been held back due to the current economic climate and a lack of confidence or availability of finance.
"All engineering companies in Motorsport Valley UK, large and small, will gain from the 'trickle-down' from such investments and the global business and work they generate.
There is a particular opportunity for
investments linked to low carbon solutions and R&D, which plays to the strengths of our motorsport community, and the growing 'green motorsport' initiatives led by the MIA.
The MIA has been working tirelessly to ensure that the Government is aware of the interests and difficulties of all UK members and - where they can - they are keen to assist. Last week, Business Minister Ian Pearson explained what companies must do in order to apply to BERR for support under the new Automotive Assistance Programme.
The £2.3 billion scheme to facilitate loan and loan guarantees with a minimum of £5 million, has now had clearance from the European Commission and is welcoming applications. It applies to the UK automotive sector and supply chain, which includes companies from motorsport and high-performance engineering and which have a turnover of more than £25 million.
New investment is vital to ensure that our industry emerges from the current downturn with the skills and technology base needed to be competitive in global markets, as well as taking the lead in the development of lower carbon transport.
The primary aim of this new package is to support the continued delivery of that investment - investment which creates or sustains jobs, develops cutting-edge technology, brings special value to the UK, reduces CO2 emissions and maintains and develops R&D in UK vehicle manufacturing, and the automotive supply chain including motorsport.
Further details of the scheme can be found at:
http://www.berr.gov.uk/whatwedo/sectors/automotive/aap/page50296.html, or go to http://www.berr.gov.uk and follow links to the Automotive sector and the Automotive Assistance Programme.
To register an initial expression of interest, simply email the Automotive Unit at BERR berr.auto@berr.gsi.gov.uk. When doing so, it will be necessary to provide your business name and address in full, with email, telephone and full name of contact.
