The Heart of the South West Local Enterprise Partnership has announced an extension to the Hinkley Point Supply Chain Service, to cover the next 12 months.
The Hinkley Supply Chain Programme is an ambitious programme designed to help SMEs from Devon, Somerset, the West of England and Wales access bespoke support to bid for new nuclear supply chain contracts. The Hinkley Supply Chain Programme is delivered by the Hinkley Supply Chain Team, made up of SWMAS Ltd, Somerset Chamber of Commerce, and Business West. It is funded by the Heart of South West LEP, West of England Combined Authority, and Welsh Government. The programme has two main delivery arms: supplier development for SMEs across the South West and Wales, and inward investment support for foreign companies looking to land in Devon, Somerset and the West of England.
The contract service was initially procured in 2017 for three years of delivery, and was structured to allow for a maximum of three extensions, dependent on evidenced need, and the ability to secure additional funding.
There have been multiple successes by the service, and since March 2021, 800 companies have received support across the three regions resulting in £23 million of contract wins. The third contract extension covers Hinkley for the next 12 months, as it enters its sixth year of operation.
Nick Golding, Director at SWMAS, said: “The Hinkley Supply Chain Programme works to support and grow businesses in the area, and ensure local companies benefit from the opportunities available with the Hinkley project. The extended contract will allow this support to continue for another year, and ensure this ambitious construction project can continue to benefit from the expertise of local businesses as it enters its next stage.”
The extension for supply chain support comes as the opportunity pipeline for both investment and contracts for regional firms continues to grow. The live opportunity pipeline is worth more than £75 million, and currently regional companies that have been supported by the programme are in line to win £16 million for contracts, with an additional £50 million of other live opportunities available.
The investment into the supply chain programme from the Heart of the South West LEP, local partners, the Welsh Government and the West of England Combined Authority totals £357k.
Corinne Matthews, Nuclear and Aerospace Lead at the Heart of the South West LEP, said: “Over the next 12 months work will continue to shift towards opportunities linked to the MEH Alliance and Nuclear Island with long-term potential for export.
“To have this level of collaboration and funders for one specific service, that cuts across two LEP areas and the Welsh devolved Government, is very unique and demonstrates strong partnership across the stakeholders.”
In addition to supply chain support, the service also delivers a specialist Inward Investment Service for the two regions, providing support to foreign direct investors that are relocating into the area to fill supply chain gaps. Many of these investors have forged direct links with local businesses to support capacity and capability.
Corinne Matthews continued: “The service is supported by the Supply Chain Integration facility at the Somerset Energy & Innovation Centre in Bridgwater, which has resulted in a significant number of firms locating to the area. Approximately 100 companies have moved into the centre, with a quarter of those firms being foreign direct investors.”
The supply chain support service also brings wider opportunities for the beneficiaries of the programme including; direct experience on large scale complex projects, customer connections into other large infrastructure projects, and export opportunities through customers based on competitive positioning.
To find out more about the Hinkley Supply Chain Programme visit https://www.hinkleysupplychain.co.uk/
