THE CHANCELLOR has today welcomed a world-leading bio-tech company’s £60m investment in North Devon–hailing the effect it will have on creating jobs, boosting the local economy, and levelling up.
Visiting the Pall Corporation’s Ilfracombe site – which is set to become one of the firm’s largest filtration manufacturing centres globally thanks to the additional 200 jobs announced today – Rishi Sunak praised the investment in the town which played a critical role in the production of safe, cheap vaccines to fight Covid-19, saving millions of lives.
This is the first tranche of hundreds of millions of dollars which will be invested in the UK over the next three years, creating 500 jobs UK wide, part of a £1.1bn global expansion announced in July 2021.
With a presence in Devon for more than 40 years, the Ilfracombe site supplies the vast majority of the world’s vaccine manufacturers with vital filtration equipment crucial in the production of Covid-19 vaccines.
Following his visit, Chancellor of the Exchequer Rishi Sunak said:
“It is great news that the Pall Corporation is investing £60 million in Ilfracombe creating 200 jobs, a fantastic example of levelling up in action.
“This site started in the 1970s with just 50 employees and now is playing a crucial role in world’s fight back against Covid-19, saving lives in every country on the planet and boosting the Devon economy.
“As we look to establish ourselves as a truly Global Britain and drive forward our recovery it’s crucial, we continue to attract foreign investment and create well-paid jobs for the future.”
Joseph Repp, President, Pall Life Sciences, said:
“We’re thrilled to be part of the Ilfracombe community and excited to welcome new associates to our growing team. Our Ilfracombe manufacturing facility is integral to our global capacity expansion plans and continues to play a critical role in helping our customers deliver life-saving vaccines and therapeutics for patients.”
Filtering and cleaning air is essential in the creation of the huge numbers of safe vaccines the world needs. Without this vital technology, the risk of contamination increases, and production is slowed. This reduces the number of vaccines available and increases their cost.
The site in Ilfracombe, built on the old railway station in 1978, started with just 50 employees. Today it employs 850 people with an extra 200 recruits in the pipeline, the investment will be a significant boost to the local economy.
The Government is also investing to level up Devon and the South West. Devon County Council secured £10 million of Government investment from the Community Renewal Fund to support local businesses, promote digital innovation in the county and create new opportunities.
At Budget the Government announced £1.5bn worth of investment specifically earmarked for the South West to transform transport networks in the region by reopening railway stations and improving road networks, the Government is also investing in local economies and helping small businesses grow through the Cornwall and Isle of Scilly Investment Fund.