Telford Land Deal continues to attract substantial investment
One of the Marches LEP’s first Growth Deals with Government – the Telford Land Deal – has attracted around £325m of inward and foreign investment, creating in the region of 2,000 jobs and nearly 1,300 homes.
Telford & Wrekin Council has highlighted the ongoing success of the scheme, which brings forward former new town sites set aside for development and and provides shovel ready land which can be developed for employment and residential use.
Formed in 2015, the Telford Land Deal is a partnership between Telford & Wrekin Council, Homes England and the Marches Local Enterprise Partnership.
So far, the Land Deal has attracted around £325m of inward and foreign investment, creating in the region of 2,000 jobs and nearly 1,300 new homes according to the latest cabinet report.
With support from the Council’s Growth Fund, the Land Deal is delivering new and higher skilled, local jobs, creating growth and security in the local supply chain alongside new homes and is central to the Council’s strategy to Protect, Care & Invest into Creating a Better Borough.
During the past seven years, The Land Deal has enabled the expansion of local companies, and the supply of much needed commercial and residential land for the Telford market which has amounted to 143,988sqm (1,549,873sqft) of employment floor space.
The Land Deal is a 10 year programme which aims to plough £44.5m of land receipts from the sale of land back into the local area during that time.
So far, the council has recycled around £21.9m back into the local area through upfront investment into new infrastructure, supporting the delivery of new homes, jobs and commercial floor space.
Since 2015, the Land Deal has delivered the sale of a total of 29 commercial sites and 23 sites for residential development, achieving a gross sales income of £41.9m.
One of the key successes, is the delivery of Hortonwood West – one of the council’s newest employment parks to the north of Telford which has created 339 new jobs.
The 55 acre site is home to 15 smaller starter units housing a series of new and expanding businesses, as well as large global companies such as UPS, CEL Group, Rosewood Pet Products and Craemer which have chosen Hortonwood West as their base, confirming their confidence in the Telford market and the site’s prime location.
Councillor Lee Carter (Lab), Telford & Wrekin Council’s Cabinet Member for Neighbourhood Services, Regeneration and the High Street, said: “We are extremely proud of the Telford Land Deal and the positive impact it continues to have across the borough.
“The Land Deal has been instrumental in bringing forward brownfield and underutilised land for redevelopment and shows that Telford is a prime location for investors to land.
“The programme is delivering new infrastructure, creating new jobs and homes and helping businesses to grow and attract investment.
“It is also fundamental in reducing unemployment, increasing economic independence and addressing social inequalities.”