UK taxpayer funds new HQ for MMSP

The arrangement has been brokered by the Motorsport Industry Association, of which MMSP is a longstanding member. MMSP Ltd worked with the MIA to set out a detailed business case for staying in the UK. The MIA then liaised with the DTI and AWM.

The MIA says that keeping MMSP in 'Motorsport Valley' the UK will directly safeguard over 75 jobs in engineering, design, testing and administration, and should create 45 new jobs in the short term, with a further 20 planned. It has also helped protect a substantial number of jobs at more than 300 businesses across the UK that currently supply MMSP.

"From the outset, we relied on the MIA to play a central role in our efforts to keep the operation in the UK," commented John Easton, the general manager of MMSP. "Presenting a clear business case to the Government, avoiding the obvious emotional motivations, was critical. The MIA helped us to communicate details of the valuable economic contribution we make to the UK's wider engineering base. They were as determined as we were to fight hard to retain this business in the 'Motorsport Valley'."

The amount involved in public funding has not been disclosed but John Edwards, the CEO of AWM, added: "The situation faced by MMSP demonstrates that even the most established 'Motorsport Valley' companies face potentially dramatic consequences as a result of growing global competition and the vagaries of corporate change. In order to diversify, modernise and ensure sustainable growth throughout the sector, all our high performance engineering organisations must do more to draw upon the Government-backed business development resources that are now available to them."

"I'm delighted that such a prestigious and successful company in the international motorsport community has chosen to stay in 'Motorsport Valley'," observed Alistair Fergusson, the vice-chairman of the MIA and the MD of Alcon Components. "All supplier companies based in the UK will benefit from having major, high-profile organisations such as Mitsubishi's WRC team within their local area. Dealing with these UK based organisations allows suppliers to build closer working relationships and to shorten product development cycles, and also adds prestige."