Business Secretary Vince Cable announced the launch of the National College for Advanced Manufacturing during his recent visit to the University of Sheffield Advanced Manufacturing Research Centre.
The Government intends to work with the High Value Manufacturing Catapult and with the EEF to establish a National College for Advanced Manufacturing which will identify the needs of industry and develop training provision to meet those needs.
The National College for Advanced Manufacturing is part of a new wave of employer-led National Colleges to help the UK develop world-class practical skills, with other colleges focusing on advanced manufacturing, digital skills, nuclear, high speed rail, onshore oil and gas, and wind energy.
Up to £80 million of capital funding will be matched by employers over 2015-16 and 2016-17 – a potential total investment of £160 million by 2017.
Dick Elsy, chief executive of the High Value Manufacturing Catapult, said: "This is a tremendously important announcement. Ongoing growth and success of high value manufacturing requires us to continually deliver new breakthrough technologies. We can only do that by increasing the number of people entering the industry with the right skills to work on the latest technologies and equipment."
Terry Scuoler (pictured), chief executive of EEF, added: "The new college will help Britain take several jumps ahead in the race to bridge the skills gap in this country and attract more people to develop a career in engineering and manufacturing, from high level apprenticeships to post-graduate learning.
"In Britain, we're often compared unfavourably with our German counterparts, who have for decades been seen as the leaders in vocational education. This announcement will help redress that balance and do so with a sense of urgency as we look to strengthen our own industrial base for the decades to come.
"Critically, this college will be employer-led and the partnership behind it - between the Department for Business, EEF and the High Value Manufacturing Catapult – will ensure that it is employers who will take the lead in defining and setting the standard that industry expects for higher level qualifications."
Cable said: "Economic growth is underpinned by technological innovation, a strong manufacturing sector and scientific excellence. The UK can no longer afford to lag behind countries like France and Germany, which have invested heavily in technical skills at the highest level for generations.
"The National Colleges will function on a par with our most prestigious universities, delivering training that matches the best in the world. They will help build a strong, balanced economy that delivers opportunities for everyone across all regions in the UK."