Cumbrian engineering firm Forth has welcomed the news that £20 million will be invested in Barrow.
Forth, which has one of its three bases in the town, said it could only be good news for supply chain companies and the wider economy.
The £20m investment in the Barrow Transformation Fund is expected to create more than 8,000 career opportunities at BAE Systems, its supply chain and the region’s economy.
Forth believes the fund will help it attract engineering talent to the area as well as creating significant opportunities to support new defence projects at BAE Systems.
Robert Sneesby, operations manager at Forth’s Barrow office, said: “There is no doubt that BAE Systems is the hub of the local region and provides employment for a significant portion of that, so it is great to see this being recognised by the highest levels of government.
“The outputs of this commitment will also be seen through improvements in the town’s infrastructure, as well as increasing the level of work that can be cascaded down to support local SMEs. All can benefit and be rewarded for their contributions to the area and its industries.”
The initiative involves collaboration between the Government and major companies like BAE Systems, Rolls-Royce, EDF, and Babcock.
The partnership signifies potential opportunities for SMEs like Forth to engage in partnerships or supply chain arrangements with larger companies, leading to subcontracting or service provision opportunities.
The fund aims to enhance Barrow as a place to live, work, and develop careers in the defence and nuclear sectors. Having a positive effect on the local economy, this will benefit SMEs operating in Barrow or neighbouring areas by increasing consumer spending, creating demand for goods and services, and fostering a hub of activity for Forth.
Mark Telford, managing director of Forth, said: “Our Barrow site provides valuable support for surrounding businesses already, but this funding will leverage many more opportunities for our talented engineers to contribute to the strength of the North West as a leader in the defence and nuclear industries.”
Last year, Forth launched Forth Fabrications in Barrow, a facility that directly supports BAE Systems’ submarine division, alongside the growing industries in the Furness region.
