Units will be situated on plot 12 of Hortonwood Industrial Park, Telford, land which was acquired through the Telford Land Deal, a partnership between Telford & Wrekin Council, Homes England and the Marches Local Enterprise Partnership (LEP).
Under the deal, the council has responsibility to bring forward sites, de-risk them and provide ‘shovel ready’ sites available to develop for both residential and employment uses.
The development will create an estimated 75 jobs with the total investment in plot 12 once completed expected to be around £10 million.
At the business and small unit park, space will be available for a range of potential occupiers including start-ups, smaller businesses and larger firms across eight buildings.
The units will also promote a ‘green’ environment and have been designed with space for 26 electric vehicle charging points, roof solar panels and other sustainable features and ecological enhancements.
Councillor Lee Carter, Telford & Wrekin Council’s cabinet member for neighbourhood services, regeneration and the high street, said: "The Telford Land Deal has been instrumental in creating new jobs and bringing new skills and expertise to the area and this Hortonwood development is another example of that.
"These units will be attractive to a range of businesses from a variety of industry sectors who are keen to grow and benefit from state-of-the art facilities and unit space.
"We are pleased that work is set to start onsite very shortly and we look forward to seeing this exciting development come to fruition."
The council identified what it believed is a gap in the local market for small industrial units unfulfilled by the private development market.
It has purchased the Telford site from Homes England and will build and manage the brand new units through its property investment portfolio.
Mandy Thorn, chair of the marches LEP, said: "Industrial space is often at a premium and this can be a barrier to businesses looking to start and grow.
"The development of these units in response to local need demonstrates the real support on offer to businesses in the region, thanks to funding via both the LEP’s Growth Deal and our partners, Telford & Wrekin Council.
"We are especially pleased to see the focus on low carbon solutions included in the construction of Unit 12.
"Helping businesses to become greener while also lowering energy costs is a priority for the LEP as businesses continue to face the challenge of rising energy costs."
The Telford Growth Fund, which is intended to invest directly into land and buildings, is also supporting this development.
In addition, the fund also helps businesses to attract new investors, boosting jobs and the economy as well as reinvesting into frontline services and local communities.
Growth Fund investment along with additional funds from the Telford Land Deal profit share will provide around 5,858m2 of floor space for companies at the site.
Midlands Tree Care specialists Benbow Brothers began early tree works on May 9 and the main construction contract will commence in June, with units available from June 2023.
David Charmbury, senior development manager at Homes England, said: "Homes England is delighted to continue to work alongside the Marches LEP and Telford & Wrekin Council in the effective delivery of the Borough’s growth needs through the Telford Land Deal.
"At this time of economic challenge, being able to support Telford & Wrekin Council in the delivery of sustainable & energy efficient space for new and growing businesses in the Borough is particularly important.
"Homes England looks forward to seeing this site developed and occupied over the coming year."