A scheme helping small businesses will add 1,000 jobs and tens of millions of pounds to Liverpool's economy over the next three years.
LCR 4.0, a support programme for the Liverpool City Region's manufacturing sector, has already created 80 new jobs and added 拢2.6m GVA to date.
The figures were revealed at LCR 4.0's Technology Showcase event, which took place at Sci Tech Daresbury last week.
But it's now predicted that听LCR听4.0-enabled small and medium-sized enterprises (SMEs) will go on to add an additional 955 jobs and 拢31.1m gross value added (GVA) to the local economy in the next three years.
Part funded by ERDF, LCR 4.0 works collaboratively with local businesses, and so far, a spokesman said the project has given almost 300 SMEs the tools and resources to explore the opportunities and challenges of Industry听4.0听technologies.
It helps firms wanting to take advantage of the opportunities of the '4th industrial revolution', including big data, systems integration, Internet of Things (IoT), augmented reality (AR) and 3D printing.
It's intended that by using this advanced technology, SMEs can increase productivity, reduce costs and pioneer first-of-its-kind innovations.
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Dr Andy Levers, technical director at the Virtual Engineering Centre (VEC) and technical lead for听LCR听4.0, said: 鈥淭hese figures are real testament to the impact of the听LCR听4.0听programme to date and that, if a business starts to operate in a more innovative way, they will generate better results quicker.鈥
The Technology Showcase event was a celebration of the success and impact of the听LCR听4.0听programme, as well as a platform to highlight the additional support and funding available to SMEs across the North West.
Event attendees were welcomed by Metro Mayor Steve Rotheram as he praised听LCR听4.0, its partners and the SMEs for their contribution in positioning Liverpool City Region as a "global leader" in advanced manufacturing.
Mayor Rotheram said: 鈥淭here is a truly entrepreneurial spirit running through Liverpool City Region.
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鈥淏ecause of this, the region can become, and in my opinion is becoming, a manufacturing global hotspot. Programmes like听LCR听4.0听are making that possible, establishing innovative and dynamic manufacturing communities across the six boroughs.
鈥淲e鈥檙e well on our way to fulfil our potential as a hub of advanced manufacturing.
鈥淲hat we need now is to collaborate and embrace new techniques and processes which will drive growth."
