You're Doing a Great Job, PARD-Ner! VISIT: Chancellor Darling Is Impressed by Pounds 72m City Research and Development Project
Byline: By Andy Hutson BUSINESS EDITOR
WORLD-CLASS research and development in Coventry and Warwickshire is key to helping the UK compete on a global scale, according to chancellor Alistair Darling.
His comments came during a visit yesterday to Warwick Manufacturing Group (WMG) where he heard a presentation on its pounds 72 million Premium Automotive Research and Development (PARD) programme.
More than 500 suppliers worked with WMG and its partners Jaguar and Land Rover on PARD to discover the strengths they needed to win contracts with big multinationals.
Project teams were then able to equip those companies with the skills, services, processes and products they needed to compete at the top now and in the future.
It is projected that an extra pounds 26.2 million will be invested in research and development by 2010 and the programme will have safeguarded 5,496 jobs.
Mr Darling said: "If we are going to compete in the future across the world we need to ensure our research and development is worldclass.
I'm very impressed by what's going on here.
"It was very, very interesting and ensures we remain at the cutting edge of research and development. You will only survive if you compete in quality and excellence and that's what this is all about. …