· £2.4m for Engineering Apprenticeship Programme to help Corus apprentices
· £1.4m package of support to boost help for business start ups and existing firms in the Tees Valley
While on a visit to the Teesside Cast Products plant the Business Secretary Lord Mandelson announced funding totalling £3.8 million for apprentices at Corus and businesses in the Tees Valley.
The £2.4m funding for the Engineering Apprenticeship Programme is specifically aimed at those who are already on training courses and who are at risk of redundancy or where they might be unable to complete their course due to the economic downturn.
Around 150 apprentices in the Tees Valley will receive help over the next two years - including 65 Corus apprentices - to allow them to continue their engineering training.
One North East has also agreed an additional £1.4m package of support available to people looking to start up a company and provide additional help to existing businesses looking to expand or diversify.
The package, which will raise the threshold of support available to business start ups from 70% to 90%, will be administered through the North East of England Investment Centre and will be available through Business Link.
The apprenticeship programme investment and support for businesses is part of the wider two-year £60m Tees Valley Industrial Programme helping firms in the area make the transition into low carbon and advanced manufacturing.
Notes to editors
1. Engineering Apprenticeship Programme. Support will take the shape of training allowances for individuals and support for employers to enable engineering apprentices to:
· Be supported whilst they gain the work experience they need to complete their apprenticeships;
· Be retained at the company or move to a new employer to complete their apprenticeship;
· Receive help to gain relevant post apprenticeship work experience; or
· Enter further training to develop relevant future skills and employability.
Department for Business, Innovation & Skills
The Department for Business, Innovation and Skills (BIS) is building a dynamic and competitive UK economy by: creating the conditions for business success; promoting innovation, enterprise and science; and giving everyone the skills and opportunities to succeed. To achieve this it will foster world-class universities and promote an open global economy. BIS - Investing in our future.
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