Unemployed people on Teesside are being helped back into work after a training firm won investment from the Northern Powerhouse Investment Fund.
Stockton firm Nordic Products & Services, which offers courses in welding and engineering, secured a 拢150,000 investment in 2017 to support its work providing engineering training to people in the Tees Valley area.
Since receiving the funding from the fund, which is administered by FW Capital, the company has helped more than 150 unemployed people into work.
FW Capital has worked closely with Nordic鈥檚 management team, providing guidance and support to deliver its growth plans. The firm recently hired a business development manager to build on its success.
Kully Brooks, Nordic Products & Services director, said: 鈥淟ike many new businesses, we had teething problems in the early days but FW Capital were exceptionally supportive. We have been able to have open, honest and frank discussions and have been given constructive and professional feedback and advice.
鈥淏ecause of this collaboration, we were able to turn things around and really make a success of things and now more than 150 more people are in work.
鈥淭he engineering training we offer is really tailored to match the skills gap in the Teesside engineering industry. What we have been able to do is bring our trainees and the industry together, which helps meet the needs of the local employers and also give people good careers in engineering.
鈥淲e are delighted to have helped so many people achieve long-term sustained employment, it is wonderful to see so many success stories and see how people鈥檚 lives have been transformed.鈥
Lindsey McMenamin, senior portfolio executive at FW Capital, said: 鈥淚n 2017, Nordic Products & Services came to us for investment to assist them in providing valuable training for people in the Tees Valley area.
鈥淭he training scheme was a great success and the impact has been immense, with 150 people now in work because of it.
鈥淜ully and her team should be commended for their fantastic efforts helping so many unemployed people into engineering careers. We are delighted to have played a role in such an important project.鈥
Tees Valley mayor Ben Houchen said: 鈥淣ot only are Nordic helping people develop the skills needed to improve their employability, they also work closely with business meaning trainees have real job opportunities once they鈥檝e finished their training.
鈥淚鈥檝e seen the dedication of everyone at Nordic first-hand and the investment they鈥檝e secured is well deserved. I look forward to seeing the next 150 people securing jobs on the back of Nordic鈥檚 training.鈥
The Northern Powerhouse Investment Fund provides a mix of debt and equity funding, from 拢25,000 to 拢2m. It uses funding from the European Regional Development Fund.
