New jobs for Barnsley engineering firm
A Barnsley engineering firm is on the road to expansion after receiving a business loan from Finance Yorkshire.
JGP Engineering Ltd, based in Wombwell, has received £50,000 from Yorkshire’s new £90m venture and capital loan fund to create a powder coating facility at their premises which will create approximately three new jobs.
Established in 1998, JGP Engineering Limited has gradually become one of the largest architectural metalwork specialists in the UK. Originally, they only provided electric gates but now do everything associated with architectural metal work such as balustrades, balconies, architectural louvers, staircases and structural steel work in a variety of materials ranging from mild steel to stainless steel and glass. .
The company will be using the money to establish a new finishing facility so they can complete final coat finishings of wet paint or powder coats to their metalwork on site without having to outsource.
Managing director Gary Phillis founded the company with one employee, his son, but now has a workforce of more than 40.
Says Gary: “By not being able to provide a finishing service we currently have to outsource this area of work which means we don’t have any control over the quality. Bringing this service in house will mean we are in a much stronger position to provide an even better service to our customers. It will also allow us to create approximately three jobs so we are hoping we can start work to get it up and running as soon as possible.
“I have been extremely pleased with the service we received from Finance Yorkshire. Without their support we would not have been in the position to grow as we have done.”
David Ward, from Finance Yorkshire, said: “JGP Engineering is a great example of a company who has diversified over the years and expanded rapidly with it.
“This investment from Finance Yorkshire allows them to further expand the services they have on offer providing an improved service to its customer base as well as the creation of new jobs which is a welcome boost.”
Helping a range of small and medium sized businesses to meet their funding requirements for growth and development, Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m.
The project is supported financially by the European Union. It has attracted £30million investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, £15million from Yorkshire Forward’s Single Programme , and £45million match funding from the European Investment Bank.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or ring 0845 649 0000.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire