Ageing pottery business secures £5 million

More than 100 jobs will be created in Stoke-on-Trent after the last working pottery in the UK secured £5 million of government and private funding to expand its operations.

The Prince of Wales, who is the president of the Prince’s Trust, visited Middleport Pottery in Burslem this week to mark the announcement of a £1.7 million investment from the government’s Regional Growth Fund.

The pottery was acquired by the Prince’s Regeneration Trust in June when it was at serious risk of closure. The investment will enable the pottery to refurbish and become a centre that maintains traditional manufacturing skills while offering a space for artists and a visitor centre.

Business secretary Vince Cable says, ‘This will provide a great boost to the economy in Stoke-on-Trent and create more employment in the area.’

He adds, ‘The government recognises that in order to stimulate the economy and encourage a private sector led recovery, it needs to provide support to business so they can find new and creative ways of modernising and expanding their operations and the technologies.’

The £1.4 billion Regional Growth Fund uses public money to fund projects that will hopefully create long term jobs, sustainable growth and boost local economies. In the first round of the fund, £450 million was provisionally awarded to 50 projects nationwide, the Burslem pottery being one of these.

The remaining £3.3 million of investment for the site has been secured from private investors.

Todd Cardy

Todd Cardy

Todd was Editor of GrowthBusiness.co.uk between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

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