A total of 180 jobs will be created and 49 jobs safeguarded by a £735,000 investment in 17 Northamptonshire high-performance technology firms, it has been claimed.
Northamptonshire Enterprise Partnership says the grants it is handing out will also enable the companies to secure a total of £5.1 million in private sector investment.
The 17 successful bidders for funding include Northampton firms XCAM, Verilocation, RanHeat Engineering, Mahle Powertrain and Integrated Vehicle Technology Limited, plus the National Lift Tower.
The Northamptonshire high-performance technology network contains around 800 companies and has been awarded £1.7 million of Government funding, due to it being identified as having significant potential for growth.
It contains companies specialising in motorsport, defence, aerospace, marine and construction, and is said to be worth more than £2 billion to the local economy.
Tim Bagshaw, head of investment at Northamptonshire Enterprise Partnership, said: “Northamptonshire’s high-performance technology network is an incredibly important industry for the local economy and has real potential for growth.
“This funding forms part of a bigger support programme that is helping to make that growth happen, with the first round of funding already securing a significant number of jobs and high level of private investment. We would encourage other businesses in the area who feel they might also benefit from the fund to get in touch.”