A Chesterfield electronics company has created 30 jobs and safeguarded 20 more after moving into new premises as part of a £2,5m expansion project - including a taxpayer-funded grant of a quarter of a million pounds.
Kingfield Electronics also bought new equipment - including a robotic assembly - and pulled unused kit out of storage after moving into a new facility at Carrwood Road twice the size of their old one.
Sheffield City Region Local Enterprise Partnership contributed £250,000 from the Regional Growth Fund to support long term jobs.
Managing director Nick Taylor said as well as creating new positions - which are currently being recruited - the project had safeguarded 20 which were under threat at the 89-strong company because they were unable to complete large orders due to a lack of space in their old base.
He added: “We are still a relatively small company, with no investors. However, we hope that this expansion – made possible with the grant from the RGF – will enable us to compete more strongly in a global marketplace.
“There is a constant requirement to offer performance improvements, cost reductions and ever-quicker turnaround times.”
Kingfield started in 1985 and manufactures for companies in high reliability, high technology areas including: aerospace, defence, process instrumentation, and oil and gas production.
Coun John Burrows, Chesterfield Borough Council’s leader said: “It is great to see businesses growing thanks to the funding they have received from the Sheffield City Region Local Enterprise Partnership and as a board member I will continue to work with others in the partnership to get the best deal for businesses and residents.”
The grant is from the LEP’s “Unlocking Business Investment” programme, which has seen £32m in central Government funding allocated to the region.
About £29m of that fund has been allocated, while £3m is still available to small and medium-sized enterprises that plan to create private sector jobs.