LEP WELCOMES MULTI-MILLION POUND INVESTMENT IN MANUFACTURING
The business-led partnership tasked with revitalising the economy of the Marches today welcomed multi-million pound deals which could see more than 1,000 jobs created in the region.
Two aerospace companies have signed an agreement to locate their advanced manufacturing campuses to Herefordshire, and engineering group GKN will plough £12million of investment into its facilities in Telford and Birmingham.
The deals were announced by Deputy Prime Minister Nick Clegg, ahead of a conference at the British Business Embassy on advanced engineering excellence yesterday.
Dr Geoffrey Davies, chairman of the Marches Local Enterprise Partnership, said: “Talks have been under way for some time in relation to the two aerospace companies expanding their operations into Herefordshire. I'd delighted that this agreement has been signed and it represents a fantastic boost not only to the Marches Enterprise Zone in Hereford, but to the entire Marches region.
“GKN is one of the UK's leading engineering companies and its intention to invest millions of pounds in investment at its Land Systems site in Telford shows confidence in both the UK and the region's manufacturing capability.
GKN Land Systems is investing in new manufacturing equipment for production of components for the new Range Rover Sport, and the company is also extending its operations at GKN Driveline in Birmingham.
In Herefordshire, US-owned Tbilisi Aircraft Manufacturing and Market-Mats, from the Ukraine, are set to locate at the Enterprise Zone and Model Farm, Ross-on-Wye.
Each of the two advanced manufacturing campuses is expected to create at least 500 high-tech manufacturing jobs and once established the sites are predicted to increase local spending power by around £20m per annum.
The campuses will have their own apprenticeship training schools and at least 10 per cent of the employees will come through the schools at any one time.
The Marches Local Enterprise Partnership is the business-led organisation tasked with revitalising the economy of Herefordshire, Shropshire and Telford & Wrekin. It brings together influential business leaders, investors and key decision-makers from across the region.
The vision of the Marches Local Enterprise Partnership is to spearhead the conditions for economic growth and vitality by boosting sustainable private sector job creation and removing the barriers to growth.