Growth fund boosting Telford economy with more than 1,400 jobs created, says report

The Growth Fund underpins the council’s strategy to Protect, Care and Invest into creating a better borough, deliver new and higher skilled local jobs and create security in the local supply chain.

A council cabinet report today said that, as well as supporting a range of commercial developments which generate jobs, the Growth Fund is also making a positive contribution to the local economy overall.

Since the fund was launched in 2015, over £79.4m has been committed into a range of investments which have delivered and safeguarded approximately 1,445 jobs.

It says rental income, as well as the additional business rates of approximately £600,000 each year, is being invested directly into delivering front line services across all the borough’s communities benefiting older people in residential care or those supported with domiciliary care to stay in their own homes.

Some of the business successes resulting from the Fund include Rosewood Pet Products and Eden Horticulture Ltd at Hortonwood West and Filtermist International Ltd at T54 business park.

New council-funded developments also include a range of employment units at Orchard Business Park, Hortonwood and Ni.PARK, Newport.

Units at Orchard Business Park, Hortonwood and Ni.PARK include enhanced sustainable measures including the provision of EV charging points and solar panels to each unit for tenants use.

Work has also started on the new Digital and Skills Hub – the first phase of the Station Quarter development in Telford town centre

Councillor Lee Carter (Lab), Telford & Wrekin Council’s Cabinet Member for Place (the Economy & Neighbourhood Services), said: “The Telford Growth Fund is significantly benefiting people living and working in Telford, attracting new commercial investment which is in turn boosting the local economy, whilst helping to keep Council Tax the lowest in the Midlands.

“The Fund, alongside our Invest Telford business pledge, continues to drive a high number of investment enquiries and attract significant interest from all sectors.

"It’s also supporting the delivery of the new Digital and Skills hub – the first phase of development at Station Quarter which will focus on innovation and provide skills for some of the region’s fastest growing and best-paid business sectors.”