He was at Eastleigh College in Southampton to announce a £550 million Further Education Capital Investment Fund, to help improve college facilities across the country. He also announced an additional £310 million for the Regional Growth Fund to create and safeguard jobs. Both schemes will support growth in the economy.
During the visit, the business secretary toured the college's Technology Skills Centre, where he met apprentices learning a range of practical disciplines, from plumbing to electrical installation.
He also saw the 'Engage Recruitment' unit, which works with the local Job Centre to help students of all ages develop their skills, qualifications and work experience.
Eastleigh College is a member of the Ford multi-agency task force, which has been set up to address the impact of any job losses from car manufacturer Ford in Southampton, which in October announced it was shutting its Transit van factory in the city in July 2013, with the loss of 500 jobs.
Cable saw how the college is working with local business to help support the unemployed get back to work with different job opportunities.
Cable said: "Southampton is facing some serious challenges. The Ford van closure was undoubtedly a big blow. But there are some real strengths in the region, including the universities and colleges.
"The quality of further education facilities should match the aspiration of the sector, which is why the Government is stepping up capital spending; over the next two years, £550 million is being invested in transforming colleges across the country, providing thousands of students with much better facilities."
Eastleigh College chief executive Tony Lau Walker said: "An announcement in the Autumn Statement was that an additional £310 million would be added to the Government's Regional Growth Fund.
"So far, £2.4 billion has been conditionally offered to businesses and intermediaries up and down the country, creating jobs and boosting the local economy."
