A grant from the D2N2 Local Enterprise Partnership is helping a Chapel-en-le-Frith manufacturing firm create 43 new jobs.
Street Crane Ltd has been successful in applying for £150,000 from D2N2’s Unlocking Investment for Growth programme (UI4G), which is supported by the Government’s Regional Growth Fund.
The funding will help pave the way for a new building on its site as part of a £1.5m first phase of a three-part expansion at its Chapel-en-le-Frith headquarters.
It will see the company – which manufactures overhead cranes and crane components and distributes across the world – grow its number of jobs by more than 20 per cent in three years once the whole project, totalling £2.7m, is finished.
Ian Jackson, financial director at Street Crane, said: “We felt an expansion of this size might be a step too far without the grant so when we heard about it, we looked into what was available and applied.
“We felt this was an opportunity to grow the business further and a chance to go for a bigger factory. We are suffering from a severe lack of space, as we are full to capacity, and the first part of the expansion is now under way on the site next to the current buildings.
“We are delighted to be successful as it will help grow the business further and faster than we otherwise could have done at this time and it will aid us in creating many more jobs at Street Crane.”
D2N2 Chief Executive David Ralph added: “Street Crane is a great example of how our UI4G programme can help deliver jobs and support growth of local businesses.”
For more information, visit www.d2n2.org/UI4G or call 01332 826366.