Plessey’s £60m LED Investment Could Brighten Plymouth’s Future
Plymouth is home to western Europe’s largest naval base and has relied on the defence and maritime sectors for jobs. But local political and business leaders are attempting to recast its economic profile with an emphasis on marine manufacturing, innovation and tourism.
Plessey is to triple its workforce as it invests £60m in a Plymouth factory producing LED lighting, in a boost to the city’s bid to reinvent its local economy.
Plessey said the expansion of its facilities will increase production capacity of its LEDs by a factor of 30 and add 400 jobs by 2017.
With sales of £10m last year to blue-chip customers such as Philips Lighting and GE Lighting and a target to turn a profit in 2016, it is the kind of business that Plymouth is hoping to attract and nurture.