Meggitt, based in Coventry, donated its unspent apprenticeship levy to the WMCA’s Apprenticeship Levy Transfer scheme which sees funds support job opportunities and a boost in skills for local people.
To date, a total of £32.7m has now been pledged to the scheme, which would otherwise have been returned to the Government, with 725 SMEs benefiting from the fund.
The scheme has helped a total of 2,280 people obtain an apprenticeship with those being supported coming from a variety of backgrounds including school leavers, graduates and those looking for a change of career.
Andy Street, the Mayor of the West Midlands, said: “As we bounce back from Covid, the Apprenticeship Levy Transfer Fund continues to be a great way to improve and increase job opportunities for people in our region.
“This substantial donation from Meggitt not only helps our SMEs to hire apprentices that they wouldn’t otherwise be able to, but it also equips local people with the skills they need in order to secure the well-paid jobs of the future.
“Over 700 small and medium sized businesses have already benefitted from the funds that larger businesses like Meggitt have donated and I very much encourage firms from across the West Midlands who are looking to upskill their workforce to get in touch with us and see how we can help.”
The deal agreed with the government in 2018 was the first of its kind in the country and covers 100% of the apprenticeship training and assessment costs for local SMEs.
The levy money also, boosts skills, job opportunities and productivity by supporting more young people and adults of all ages into work.
Geoff Lloyd, group HR director at Meggitt, said: “We are delighted to support the growth of apprenticeships in SMEs across the West Midlands region through the transfer of £100,000 of apprenticeship levy funds to the West Midlands Combined Authority. This will further enable the development of the next generation of talent here in the region.”
Cllr George Duggins, WMCA portfolio holder for productivity and skills and leader of Coventry City Council, said: “It is fantastic to see Meggitt reach the £100,000 milestone in supporting the WMCA’s Apprenticeship Levy Transfer Fund.
“The US firm already creates thousands of jobs for Coventry and this donation will go a long way in creating new opportunities for people of all ages and backgrounds from across the West Midlands.”