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Torbay agency offers foreign companies cash to relocate

An agency acting on behalf of Torbay Council is offering foreign electronics firms up to £10,000 to relocate all, or part of their business to the area.

The Torbay Development Agency is offering the Invest in Torbay ‘soft landings’ growth package to foreign-owned small and medium-sizes businesses.

The package includes up to £10,000 to relocate all or part of their company to Torbay.

According to the agency, foreign-owned companies already with a presence in the UK but not in Torbay can also apply.

According to the agency, Torbay offers a highly skilled and expert workforce, and an exceptional education sector with links to leading colleges and universities.

Specialist capabilities that exist within the area include quantum technologies, RF & wireless, GNSS, industrial lasers, optical systems technologies, photonics integrated circuits, telecommunications and nano technologies.

Companies such as Lumentum, II-VI Lasers, Gooch & Housego, EFFECT Photonics, Spirent Communications, and Prior Queensgate all continue to grow in Torbay.

The agency will also be attending the Photonics West trade show in America next year to develop further relationships with American companies.

‘We have some excellent examples of foreign owned companies continually investing in Torbay and thriving,’ said the agency’s investment development manager, Jason Buck.

‘The soft landings programme provides a further incentive and helps support companies with the initial financial challenges of relocating.

‘The UK also offers R&D tax credits and low corporation tax which are a big plus for tech companies, particularly those from the US.

‘Torbay and the wider region has unique strengths in robust and resilient photonics and microelectronics,’ added Mr Buck.

‘This is built on world-class experience in supplying the aerospace, military and marine sectors which are also key sectors regionally. Foreign owned companies who integrate critical photonics and electronics-based solutions should consider Torbay. The capabilities within our companies, and those in the wider region, will drive forward future technology in the development of sensors and systems for autonomous vehicles.

‘There is also a focus on new technologies to meet the ever-increasing global demand driven by bandwidth, content storage and data consumption.’

Photo Credit – Free-Photos (Pixabay)

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