MORE than 50 jobs will be created at a New Forest business thanks to a £450,000 Government grant.

Lymington-based AC Marines and Composites has been awarded the grant, as well as a £1.1m loan, as part of a project to help rebuild British manufacturing.

Business secretary Vince Cable, pictured, announced the grant to the consortium including AC Marines and Composites, which will be used to enable large-volume production of composite turbine blades in England.

Mr Cable said: “While there is much to celebrate about British manufacturing, it is clear that our supplier case has been eroded over the last 30 years.

“Reversing this will boost exports and help safeguard UK jobs. Our targeted interventions have helped revive the great British manufacturing sector.

“The benefits of stronger manufacturing supply chains will be felt across the whole economy – new cutting-edge technologies, a more highly-skilled workforce and improved productivity will boost growth and jobs across the country.”

The company was formed in 2011 and specialises in carbon fibre and modern composites.

Since its inception it has created Olympic medalwinning boats and has experience working on vessels for the America’s Cup, Volvo Ocean Race, and other high-performance yacht projects.

It is also the team behind Go Carbon, which produces top-end furniture and works with big names in architecture.

The boost for Hampshire came as ministers announced that 20 supply chain projects across the UK will benefit from a total of £67m Government investment, with £109m being invested in the same projects by the industry.

Mr Cable said: “The composite turbine blades project will deliver sizeable benefits to the manufacturing supply chain in Hampshire, boosting local jobs, and that is why I’m pleased to award it funding.”

Other firms set to benefit from the grants include Siemens, based in Congleton, and Sigma Precision, based in Leicestershire.