Somerset economy set to benefit following State Aid decision on Hinkley

The news that the Hinkley Point C project has been granted approval by the EU Commission following a thorough State Aid investigation has been welcomed by the Somerset Chamber of Commerce as an important boost for economic growth and job creation in the region.

Rupert Cox, CEO of the Somerset Chamber of Commerce and Somerset 3D, says, “The Somerset Chamber is delighted, but not surprised, that the EU has not objected to the Hinkley Point C development under its State Aid regulations. This is good news for EDF Energy and even better news for Somerset suppliers.

“This is another crucial step along the long road to the construction of Hinkley Point C, which will provide millions of pounds of worth of business for Somerset and South West businesses.

“As EDF Energy works towards making its final investment decision, the Somerset Chamber will continue to work with them, their Tier 1 lead contractors and the local supply chain to make sure that business opportunities are created for local companies. We have made excellent progress so far with early contracts already awarded to local businesses, but this is just the tip of the iceberg as we develop tendering programmes that provide business for local companies for the next nine years of construction and 60 years of operation.”

The Hinkley Point C project is expected to generate £16billion of investment over the next decade, with over £100million per year likely to be spent within the Somerset economy. This will span a vast range of industries, from high-end advanced engineering businesses that can contribute to the nuclear end of the project, through to site support services including catering, accommodation, transport and maintenance.

The Somerset Chamber of Commerce manages the Hinkley supply chain portal and is the first point of contact for local businesses wishing to engage in the construction of the proposed nuclear new build project. The Chamber is currently working with eight different groups of businesses in order to find solutions for the Hinkley site around catering, accommodation, transport, maintenance and more. It is also working closely with the Tier 1 contactors that EDF Energy is commissioning to build the power station, introducing them to local businesses with construction, mechanical, electrical and fabricating skills.

The project is expected to create around 25,000 jobs during construction and 900 permanent jobs during operation, as well as bringing long-term opportunities for the county as it will be looked upon globally as a blueprint for how nuclear power plants will be built in the future.

If you'd like to find out more about moving part or all of your business to Somerset and getting involved in this once-in-a-generation opportunity, contact us at enquiries@somerset3d.co.uk

 

 

 

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