Study predicts the industry will create 20,000 jobs by 2020.
The biggest study in 20 years on supply and demand in U.K. textile manufacturing predicts that the industry will create 20,000 jobs by 2020 if current growth trends continue.
The Alliance Project, a not-for-profit organization established to study the future of textiles in the U.K., published “Repatriation of UK Textiles Manufacture,” which reports that U.K. textiles are worth 9 billion Euros to the economy. Among the report’s findings: growth is coming from ‘micro-companies’ rather than large manufacturers; traditional textile sectors, such as yarn-spinning, knitting and weaving, are growing along with technical textiles and composite materials; cost increases from competing countries are making U.K. sourcing more attractive; and traditional manufacturing businesses are located in high unemployment areas.
The report credits the National N Brown Textiles Growth Programme, a collaboration of retailers working with a government regional growth fund, to invest 9 million Euros in grants to 94 companies in its first incentive round in 2013. A second round of grants will be announced by the Department for Business Innovation and Skills soon.
Source: New Economy