ONE of the region's employers has received a major financial boost with the announcement that it is to share a £4 million research boost.
Johnson and Johnson joins four more of the region's largest companies in being awarded the multi-million funding boost from Yorkshire Forward's Industrial Research and Development (YFIRD) Awards for Large Companies.
This not only demonstrates that with the right level of support and encouragement, companies are willing to innovate, but also shows that their ideas have a high probability of attaining commercial success
Jim Farmery - Yorkshire Forward
The Johnson and Johnson wound management facility at Gargrave is just one part of a global pharmaceutical network. The funding will allow the company to invest in the research and development of new products.
Yorkshire Forward believes this activity has the potential to stimulate growth in the region's economy, and applicants need to demonstrate how the development of their product will achieve this.
Jim Farmery, Head of Innovation for the Regional Development Agency, said:
"In this round, more than 22 applicants were asked to make a full proposal, the highest number so far. This not only demonstrates that with the right level of support and encouragement, companies are willing to innovate, but also shows that their ideas have a high probability of attaining commercial success."