University brings forward capital spending & outlines other measures to assist local economy
The University of Warwick is bringing forward by a year £2 million of its capital spending as part of a package of measures to assist the local Midlands economy.
The University has been able to do this thanks to a scheme by the Higher Education Funding Council for England (HEFCE) to assist Universities to bring forward capital projects that have been specially selected to have a positive effect on the local and national economy, in particular for the construction industry. The £2 million programme will refurbish some of the University’s chemistry laboratories to create state of the art environments for students, which will be used for teaching and outreach to secondary schools.
John Denham, Secretary of State for Higher Education, said:
“I am delighted that Warwick University has been awarded almost £2m for refurbishment of chemistry teaching laboratories. This project will secure local jobs for those in vital building and construction work.
“This funding is part of a wider Government initiative to bring forward £3bn of funding for important public sector projects and will bring real benefits to students and the public alike. Higher Education has an important role to play in supporting businesses, especially during the downturn.”
This is not the only action the University is taking to assist the economy. Despite the current challenging economic conditions The University has also committed to press on with its overall £200 million pound capital spending programme which should also assist the construction industry.
The University is also mindful that small local construction firms find difficulty in participating in tenders for large construction projects and will therefore soon also announce a simpler tender process that could create a roster of smaller local companies to work on range for smaller building work projects that would total several million pounds worth of business. Once the details of the scheme have been finalised the University will also announce a special event for those companies to see the details of how the scheme will operate.The University has outlined some of its range of support for local businesses and people during these challenging economic times at:
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