Investing in Telford
a multimillion pound injection from Magna International, a supplier of aluminium castings to nearby Jaguar Land Rover. The firm’s state-of-the-art, 25,000 square metre plant is due to open in Spring 2018, creating 300 jobs and is thought to be one of the biggest, new overseas investments in the UK in the last ten years.
Magna
Home to the legendary Iron bridge - the birthplace of the industrial revolution, the borough of Telford and Wrekin has a rich history of innovation. In the past fifty years since its inception as a new town, Telford has emerged as an international hub for advanced manufacturing supply chains, plastics and polymer production and more recently, agritech. However, despite these inherent strengths and a seemingly endless supply of development land, the authority needed to transfer the opportunities into reality.
Already boasting a central location, access to a skilled workforce and affordably priced land, the town’s next aim was to transform the land offer into immediately deliverable opportunities free from constraints. The Telford Land Deal, conceived in April 2016 was created with this aim in mind. The council brokered a deal with the Homes and Communities Agency to proactively manage their assets within the borough, ensuring that suitable sites are available for immediate development, while also creating business support service Enterprise Telford to provide developers with a genuinely ‘soft landing’.
18 months on from its launch, the Telford Land Deal has attracted £236 million of investment to the area and prompted the sale of £23 million worth of land - in deals set to create 988 new jobs as well as stimulating the construction of over 86,000 square metres of commercial floor space.
Polytec
In an investment landscape dominated by Enterprise Zones with limited offers of business rates relief, Telford Council has found that it’s proactive investment to actively remove barriers to development such as improving site access, utility provisions and drainage, as well as helping to secure planning certainty prior to sale that really turns heads.
The Land Deal has proved instrumental in helping the region to secure record levels of Foreign Direct Investment, most notably
Contact us today about the current opportunities
t.01952 384333 estates&
investments@telford.gov.uk
Rosewood Pet Products
As well as being a prime location for industrial occupiers, Telford is also a well-located, affordable destination for service industries, with a current range of office premises available for immediate occupation at an extremely competitive cost that undercuts local and regional rivals. Over the next year, the team will continue to work tirelessly to support businesses and cement the borough’s status as a UK- leading inward investment destination.
Other businesses that have been supported through the deal include Austrian reinforced plastics supplier Polytec and German plastics and polymer specialist Craemer Group as well as expanding regional businesses such as Wrekin Pneumatics and Rosewood Pet Products. The council has also acted as a developer, building commercial facilities for tenants, who then move in to scale up, via long-term lease agreements. Aside from supporting commercial sites, the Land Deal is also speeding up development of residential property, releasing six sites which are due to produce 597 new homes.
In a climate where businesses must remain agile to grasp expansion opportunities and housing need is greater than ever, accelerating development and offering genuinely ‘shovel ready’ sites has paid dividends. It is no coincidence that Telford attracted eight times as much foreign direct investment in 2016/17 compared to during 2015/16, before the introduction of the Land Deal.
While many businesses have already benefitted from the Land Deal, moving forward, Telford remains a place of opportunity. Over 200 acres of public sector land is still available for development and investment.
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