£9 million to be invested in 950 job Enterprise site in Newport
A £9 million business park investment in Newport that could create 950 new jobs, is set to go ahead after securing Government funding through the Midlands Engine and Telford & Wrekin Council.
The £9.3 million funding for the Newport Enterprise Package announced today after a bid by the Marches LEP, will play a very major role in the borough’s economic development and rapid growth, promoting Newport for inwardinvestment and supporting the Enterprise Telford drive for growth and prosperity.
It is more great news for the borough’s economy, which is already attracting a range of major new employers, and will create hundreds of new jobs in this part of the borough.
This investment in the Newport Enterprise employment site will provide space for a range of new firms including start-ups, smaller businesses and larger occupiers and could create up to 950 new full time jobs.
While the Midlands Engine funding will provide £6.3 million,while an additional £3 million will come from the Telford Land Deal between Telford & Wrekin Council and Homes & Communities Agency, further Council funding and developer contributions.
“The site will provide a strong offer to high tech companies,creating high value employment linking with Telford’s strong advanced manufacturing sector, being in close proximity to the world reknowned Harper Adams University and its leading Agri Tech Centre of Excellence.”
Cllr Shaun Davies said; “This is more great news for the borough and the region and will create a crucial employment site in the Newport area which will give a real boost to business and employment in the town and for the agri-tech sector the site will serve.
“This is another significant investment by the Council into Newport.Last year we took on the Audley Avenue Enterprise Park ensuring its remains for business use, keeping hundreds of jobs in Newport.
“We now want to begin work on this new site in 2018/19 and bring employment land forward as quickly as possible.
“It’s another major economic boost for the borough, another signal how it is on the up and recognition by the Midlands Engine of the key role we have to play in driving growth.”
This investment, supported by the LEP's latest Growth Dealwith Government, follows other major projects in Telford and Wrekin including:
the opening of the new MoD Logistics Hub at Donnington this spring
Growth at areas such as the T54 site which hasattracted the new multi-million pound Magna and Polytec investments that will create400 new jobs in their first phase. The magna site is now under construction and is due to open next year.
Dr David Llewellyn, vice chancellor of Harper Adams University, added: “By working with the Local Authority and the Marches LEP,with the welcome support of Newport Town Council, we are delighted that the Growth Deal funding announcement will make it possible to embark on the next phase of our plans to create an agri-tech innovation park at the edge of Newport.
“The aim of this joint initiative is to put Telford &Wrekin’s economy at the heart of a new industry sector. Not only will this development bring the potential for new jobs and economic growth, but it will also support research and innovation for the agri-food industry, a theme that will feature strongly in the UK’s food and farming strategy.”
