Telford hailed as ‘heartbeat of UK investment’
The scale of business investment being made in Telford has led to the town being described by the UK Department of Trade as the "beating heart" of inward investment.
The town's Land Deal, which allows the borough council to sell land owned by the Government, has delivered over £25m of development land sales and is set to create nearly 1,000 jobs.
A report to Telford & Wrekin Council’s cabinet, which meets on July 12, also says the deal has enabled the delivery of 614 new homes.
Councillor Lee Carter, Telford & Wrekin Council’s cabinet member for finance, commercial services and economic development, said: “The investment delivered though our unique Land Deal has had a fantastic impact right across the borough, delivering new infrastructure, new jobs and new homes.
“It has supported existing businesses to grow, helped to reduce unemployment, increased economic independence and addressed social inequality.
“I am delighted that the deal, alongside our Enterprise Telford business pledge and our ability to provide land and build and lease bespoke properties, continues to drive a high number of new enquiries.
“We are still seeing significant interest from the automotive and advanced manufacturing sectors as well as companies connected to battery and auto light weighting.
Karl Tupling, General Manager for Homes England in the Midlands, said: “The deal is already offering new jobs for local people as well as the opportunity to develop new homes to help more local people in Telford have access to a home of their own.”
Graham Wynn, chairman of the Marches Local Enterprise Partnership, said: “The progress made to date by Telford & Wrekin Council, working in partnership with Homes England and supported by the Marches LEP, is visible across the borough and showcases both Telford and the Marches as an area open for business and ripe for investment.”
The council entered into the 10 year land deal with Homes England in March 2016 supported by the Marches Local Enterprise Partnership.
The deal allowed it to manage and invest in sites on its behalf, and to use it to attract investors to the town.
The most high profile investment to date is Magna International’s new plant at the T54 technology park, which will ultimately create more than 500 new jobs.
Over the next 12 months, the Land Deal will also support the delivery of NI Park – a flagship Agri Tech innovation park in Newport.
This is being delivered in partnership with Harper Adams University and will provide opportunities for start-ups and larger companies to invest. This has led to both the borough and the park being promoted to investors worldwide by the Department for International Trade.