AN expanding Lincoln-based firm is injecting life into the economy in a move which could provide business opportunities and jobs across the city.

Hi-tech firm Dynex is enjoying rising profits and record orders and is celebrating its good fortune by expanding its factory facilities and increasing production.

News of the company's fortune was welcomed by The Greater Lincoln Partnership, which works to alert potential investors to the wider Lincoln area and encompasses West Lindsey and North Kesteven District councils as well as the City of Lincoln and County councils.

City of Lincoln business services team leader and member of the GLP Rob Smith said: "The fact that they are doing all this work is fantastic news and it will have a positive impact on their suppliers.

"Hopefully this might create other businesses and in the long term it might create jobs and attract other people to the city."

Dynex, a semiconductor specialist, makes power switches used in rail, marine, aerospace and electric energy sectors and helps drive factory machinery.

The company's growth comes as a boost to the 270 people currently employed at Dynex, and it is hoped the developments could lead to more jobs being created.