NEPIC hits the billion mark
NEPIC - the regional cluster for the chemical and process industries in the North East - has now contributed more than £1 billion of added value to the regional economy in its six years in existence.
Costing £1 million per year, provided jointly by industry and the public sector, NEPIC has generated more than 166 times that investment.
Stan Higgins, Chief Executive of NEPIC, said: "A key part of our success has been bringing together the huge pool of talent that exists in the North East and using this to help attract investment into the region. It is doubtful whether any other industry-led organisation can match our success rate or the value for money that we offer to the UK economy."
NEPIC says that by working closely with private and public sector partners, the Cluster has helped to win new investments that have secured or created 3,364 jobs. This organisation has 550 members.
Ian Swales, MP for Redcar, said: "NEPIC has achieved outstanding success over the last six years and played a key role in driving this vital sector of the local economy. I know from talking with NEPIC and their client companies how valuable their work is. As a former manager in the process industry I recognise the value of clustering and look forward to continuing to work with the industry as it plays a key role in driving future economic success in our region."