A total of £20 million in public funding will be allocated to Barrow-in-Furness in Cumbria initially, then £180 million annually for the next ten years.
Four new Dreadnought-class submarines, intended to carry nuclear missiles called Trident, are being constructed in the town.
The Royal Navy’s Astute-class submarines are housed there as well.
Downing Street anticipates that the approximately £763 million in investments from companies including BAE Systems, Rolls-Royce, EDF, and Babcock will generate approximately 8,000 job opportunities in the region.
Steve Carlier, the head of Rolls-Royce Submarines, stated that this demonstrated how the UK is “going to go even further in its mission to meet the growing demand for nuclear expertise”.
