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Incentives to attract new businesses to the borough

Published on 20 April 2012

A range of major financial incentives to attract new businesses to the Telford area are being proposed by Telford & Wrekin Council.

The incentives are part of a drive to secure inward investment in the wake of the massive new Jaguar Land Rover i54 plant opening just outside the borough.

In addition to the borough's readily available development land, lower house prices and excellent rail and road links, the Council is looking at a range of further incentives for new businesses coming to the borough .

These could include the Council offering business rate discounts of up to £55,000 a year or deferring business rates to help new start ups.

A report to the Council's cabinet says that the borough is ideally placed to benefit from the massive Jaguar Land Rover plant, which will create 750 jobs directly and a further 2,200 in its supply chain.

There are already many major automotive suppliers based in the borough manufacturing a range of components.

In addition the borough has 167 hectares of development land, more commercial land than any other major West Midlands employment area, with much of this on existing commercial areas such as Hortonwood or the Nedge.

The Council also has an agreement with the Homes & Communities Agency which allows it to offer flexible development package to help new firms grow.

The report says that with the M54 motorway running through the borough and a dedicated railfreight terminal in the borough at Donnington, Telford has very good transport links.

Special training is also being developed involving Telford College and the universities of Wolverhampton and Warwick to ensure local people have the skills that Jaguar Land Rover and its supply chain will be looking for.

Council leader Kuldip Sahota said: "Telford is ideally placed to benefit from the opportunities presented by the i54 development, but we have to make the conditions right to ensure that new businesses want to come to Telford.

"We need to make it as attractive and easy as possible for new businesses to come here and we as a council have a key part to play in making this happen to ensure that we win this business for the borough.

"If Cabinet backs this, subject to national government position on business rates we could offer business rate incentives which with our available land, excellent skill base, great transport links and other benefits make us an ideal location for a business.

"This will be a very important step forwards in making us a business winning council, one of the recent recommendations made to us from the Council's independent Co-operative Commission."

"We want Telford to be a place for business to flourish and this would help sow those seeds."

 

Last updated 20/04/2012

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