Tyre manufacturer Pirelli has announced a multi million pound investment in its Carlisle factory.
The Italian firm will spend £11.4 million in research and development, creating 37 new jobs and protecting a further 120 more.
The announcement was made at a British Business forum in London this morning.
Last year the company recieved government money as part of a project to boost economic growth. The Deputy Prime Minister Nick Clegg said:
“The skills and expertise of British businesses are gold medal standard and highly sought after across the world.
“The UK is one of the top ten manufacturers in the world. Our manufacturing sector is a national success story and lies right at the heart of our strategy for economic recovery and growth.
“The announcements being made today will create and safeguard jobs and stimulate growth. They are a welcome boost to British business and a vote of confidence in the UK.”
Business Secretary Vince Cable added:
“The key to a sustainable and balanced economy is having a long-term approach to growth, investing in manufacturing technology, research and development, and skills so we have the right talent to make the most of the recovery.
“Working with business, we are taking steps to strengthen the UK’s manufacturing capability, ensuring a better business environment that will address barriers to growth and encourage innovation, exports and inward investment as well as build UK supply chains.“
More top news
The first of seven races will begin at 5:45pm, and 76 horses are competing. The UK's top female jockey is amongst the competitors.
Thousands of people are expected to flock to Brampton to catch a glimpse of the colourful breed, which is more common in warmer climates.
More than 120 young athletes are taking part in this year's Borders Sport and Leisure Sports Academy.