14.11.19
Torbay council offers funding to attract foreign businesses
A funding program has been created by TDA, on behalf of Torbay Council, offering up to £10,000 to foreign companies willing to re-locate to the area.
The ‘soft landings’ program, first targeted at electronics and photonics companies but open to a wide range of organisations, also offers the investment opportunity to foreign SME’s already located in the UK but not in the Torbay area.
Jason Buck, Investment Development Manager at TDA said: “We have some excellent examples of foreign owned companies continually investing in Torbay and thriving.
“The capabilities within our companies, and those in the wider region, will drive forward future technology in the development of sensors and systems for autonomous vehicles. There is also a focus on new technologies to meet the ever-increasing global demand driven by bandwidth, content storage and data consumption.”
With Torbay and South Devon being nationally recognized as one of the top locations for expertise in the industry, the area is home to both US ad UK multinationals in the telecom, space and optical systems technology sectors.
Torbay’s £8m Electronics and photonics Innovation Centre (EPIC) has state of the art facilities including a prototyping suite and clean room facilities ready for businesses to re-locate. The area also has links with universities and colleges and its own education sector.
It aims to encourage collaboration between academia and industry, commercialise Research & Development and accelerate innovation, prototyping and product development.
Wayne Loschi, EPIC Centre Director, added: “The facilities here at EPIC are starting to attract enquiries from overseas companies that are considering opening a UK site. The soft landings funding will help make expanding or relocating to Torbay easier.”