Throughout Great Britain, and actually around the world, governments –both national and localised- have been seeking out signs of economic recovery and growth. Investors and legislators have been carefully watching all economic reports and indicators, interpreting data and attempting to provide assistance to companies and industries that show signs of strength. Thanks to PRV Engineering in New Inn, there are signs that manufacturing and engineering in the country are beginning to expand.
PRV Engineering have recently announced plans to expand their operations, with the hope of adding up to thirty new employees within the next few years. When taken on a grand, national scale, thirty jobs may not seem like cause for celebration, it’s what’s lurking underneath this announcement that is giving hope to a large number of government and private sector leaders.
First, PRV Engineering provides engineering and fabrication services to almost every major industry, from aerospace to defence, from food to automotive, from railway to construction. The company has reported strong growth year to year for the past two years. In fact, our year to year growth is near 25%, which is significant considering that many industries have been stagnating or losing work and revenue during that same period.
What can we take away from this announcement?
Of course, one company’s plans to expand doesn’t mean that the recession is over or that economic prosperity is right around the corner. However, it does indicate that the manufacturing and engineering sector is moving in the right direction.
During the past decade or more, the government in Great Britain has seemed less interested in investing in engineering and manufacturing with regard to economic vitality, even though experts in the industry continually pointed out that it is this industry and not retail sales, for example, that truly drive the national economy. The government placed less emphasis on this field and industry, but with the announcement of our expansion plans, it will hopefully shed light on the fact that engineering is still a vital aspect in the growth and overall health of any economy.
The Welsh government has taken an interest in this expansion plan and fast tracked funding to help make it happen. With more jobs being created at PRV, this could lead to other businesses expanding as well. PRV has many more contracts for future work already lined up which indicates that this could very well be only the beginning of positive steps in the right direction for economic recovery.