This Labour run scheme has created 988 jobs since April 2016 · £23million worth of land has been sold, set to stimulate building of 86,754 m sq of commercial floor space and 597 homes
Telford Land Deal bolsters local economy by £236 million in 18 months
The Telford Land Deal – an innovative investment scheme run by Telford & Wrekin Council, has attracted £236 million of investment to the area since April 2016. The initiative has sold £23 million worth of land – in deals set to create 988 new jobs as well as stimulating the construction of over 86,000 square meters of commercial floor space.
Telford & Wrekin Council manages and invests in sites on behalf of landowner, the Homes and Communities Agency (HCA), acting to remove barriers to development and attract potential investors.
Working through its inward investment and business support service Enterprise Telford, the council ensures businesses and property developers have a ‘soft landing’ and that suitable sites are available for immediate development. The team provides logistical assistance in improving site access, utility provisions and drainage, as well as helping to secure planning certainty prior to sale.
The Land Deal has proved instrumental in helping the region to secure record levels of Foreign Direct Investment, most notably a multi-million pound injection from Magna International, a supplier of aluminium castings to nearby Jaguar Land Rover. The firm’s state-of-the-art, 250,000 square meter 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.
Other businesses supported through the deal include Austrian reinforced plastics supplier Polytec and German plastics and polymer specialist Craemer Group as well as expanding Telford businesses such as Wrekin Pneumatics and Midlands-based company Rosewood Pet Products which is moving into the borough.
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.