Umbrella Company Employees specialising in the tech sector stand poised to see a flurry of new contracting opportunities thanks to a £300m deal between the Nottingham-based company Chinook Sciences and the United Arab Emirates. Around 850 new jobs and contracts are expected to be generated by a major new project to build a thermal energy-from-waste plant in the UAE.
Approximately 50% of the new jobs and contracts will be based in the East Midlands and the deal is also expected to lead to new hiring and increased revenue amongst the company’s 440-strong supplier firms, which are distributed across the UK.
Derbyshire and Nottinghamshire Chamber of Commerce spokesman Jon Smart lamented the loss of jobs in the region due to the closure of the Imperial Tobacco factory and the Lace Market Hotel; however, he added: “So it just goes to show that there are these new innovative high-tech companies coming along creating jobs and picking up some of that slack. So I think the economy is in a really good place at the moment.”
Chinook Sciences has been developing technology to turn discarded waste into sources of energy since its launch in 1998.
Trade minister Lord Livingston congratulated the company on expanding beyond domestic markets. He said: “Our medium-sized businesses have the potential to be economic powerhouses for the UK. Their success is dependent on expanding beyond domestic markets.”
He went on to say that many of the firm’s key suppliers anticipate a doubling of their revenue over the coming five years, with a substantial increase in new jobs.