HAMPSHIRE is set for a major jobs bonanza after three hi-tech companies were promised part of a multi-million-pound Government hand-out.

More than 730 jobs will be created once £20.6m of new investment is pumped in to Hedge End’s SPI Lasers UK Ltd and Hamble’s GE Aviation Systems and Fianium Limited.

The cash and employment boost, which comes from the Government’s Regional Growth Fund, matched by private investment, has been hailed as “brilliant news for the area”.

Eastleigh MP Mike Thornton said: “This jobs boost is brilliant news for our area, and is further demonstration of the positive ‘gogetting’ attitude of local companies, making things happen and creating jobs.

“I’ve seen first-hand the extraordinary ground-breaking work being done by companies like SPI Lasers, and I’m sure this investment will help the local economy grow.

“Already the Regional Growth Fund has made a real difference in our area. The funding for the Bridging the Gap programme, including the £500,000 Ford Impact Fund, is already helping local SMEs and start-up businesses, creating or safeguarding up to 200 jobs over the next three years.”

All three companies have been successful in their applications for funding, though it is not yet clear whether the money is equally divided or how many jobs will be created at each company.

The latest boost comes just weeks after GE Aviation announced it was securing more than 850 jobs by developing a huge 9,000 sq m facility at its Hamble plant as part of a five-year £32m cash injection.

The new facilities will make crucial wing components for the much-anticipated Airbus A350 XWB.

Fianium Limited, based in Ensign Way, Hamble, creates lasers which can be used to build smartphones, digital music players, e-book readers and even for eye-surgery. It has offices in the US, China and Japan.

CEO Anagoly Grudinin told the Daily Echo: “It is great news for Fianium. The money will be split 50-50 with half going on job creation and the other half on product.

“Without this investment, it would have been difficult to move forward.”

Hedge End-based SPE Lasers UK LTD creates fibre lasers for cutting, welding and marking and has offices in China, Korea and the US.

The news comes a day after the Daily Echo revealed how thousands of jobs could be created through an expansion at Southampton Docks made possible with a £70m loan from the European Investment Bank. It will also come as a welcome boost with Swaythling’s famous Ford factory set to close at the end of the month with the loss of hundreds of jobs.