The company designs, manufacture and supplies fibre optic solutions used across the aerospace, defence, industrial, life science and scientific research sectors and is investing £18million in expanding in the region.

“This company is a great example of how the Regional Growth Fund is helping to build a stronger, more resilient economy and a fairer society,” said environment Minister Dan Rogerson.

“The Regional Growth Fund has enabled us to further strengthen our capabilities in Torbay and facilitate sustainable strategic growth over the next decade and beyond,” said Dr Andrew Robertson, Senior Vice President System Technology Group at Gooch and Housego. “With the ongoing support of the Torbay Development Agency, the fund has allowed us to recruit six new people already and we hope to add thirty more to the team in the coming three years with this number growing to 60 in the next ten. This will allow us to add many new skills to our R&D team, build our talent pool of Photonics Engineers and continue to expand of our production facilities, crucial to securing our long-term growth.”

So far £210 million of RGF money has been invested in businesses across the South West, helping to create 36,000 new jobs as companies have committed to investing an additional £700 million.

RGF Round Six, which will make at least £200 million available to companies across England, has just closed with 174 applications totalling more than £800 million. Thirty two bids worth £109 million were received from the South West. Successful bidders will be announced in the New Year.