Around 300 new manufacturing jobs could be created in the West Midlands with construction of a new multi-million-pound development close to the site of Jaguar Land Roverâs engine plant set to get under way shortly.
Magna International, a supplier to JLR, has concluded a deal to buy land and construct a 225,000 sq ft manufacturing site at the Telford 54 business park.
The project, revealed earlier in the year, is already being hailed as a massive boost to the region.
The firm, formerly Stadco until its acquisition last year, has planning consent from Telford & Wrekin Council for the development and construction is due to get under way imminently.
National property consultancy Lambert Smith Hampton (LSH) acted on behalf of the Homes and Communities Agency (HCA) to attract the global automotive parts supplier to the 37-acre site, known as Titan 640.
Associate director in the industrial and logistics team at LSH Birmingham, Matthew Tilt, said the go-ahead for Magna would be a catalyst for more investment and jobs in the Telford region.
Tilt commented: After more than two years of discussions, this is huge news for the Midlands and demonstrates the continued commitment that big business has in investing in jobs in the region,
Titan 640 provides everything a major operator needs and delivers from a logistics perspective too, because of its easy access to major motorway networks, so attracting a company of Magnaâs calibre is a significant boost to Telford.
It is an excellent example of how a local authority and government agency can join forces and work together for the greater good of the community.
Area manager for the HCA, Nick Bird, said: Working with Telford Council and UKTI, weâve secured this multi-million-pound manufacturing investment for the region.
We recognised the potential of the site two years ago and invested in the site to prepare it for this major development by securing planning permission, assembling technical information and conducting a targeted marketing programme.