Investor confidence in Staffordshire is being demonstrated with the construction of new speculative developments as near full employment continues, the county’s economic growth leader said today.
Mark Winnington said new development will lead to more jobs, with latest statistics showing that just 1.3 per cent of the local population is claiming out of work benefits. This is the same rate as the previous month and lower than both regional (2.8 per cent) and national (2.2 per cent) averages.
Building work is now under way on a 37,000 sq ft speculative unit at Four Ashes Business Park in South Staffordshire, where the county council recently completed access works from the A449. The work is being carried out by site developer Bericote Properties. On the same site, Midlands developer First Pannatoni has begun its 450,000 sq ft speculative unit at meaning the site is now fully occupied. It is set to be completed in October this year and will create up to 500 jobs.
At the county council developed Kingswood Lakeside business park in neighbouring Cannock Chase district, work will soon start on a 102,000 sq ft speculative unit. Last week Birmingham developer Trebor, which built a similar facility at Redhill Business Park in Stafford, announced its contractor to carry out the construction. The development should be completed in 12 months.
There is a great deal of business development taking place across Staffordshire which ultimately will lead to more job creation.
At two sites which the county council has been directly involved with we are seeing new speculative development taking place, which really demonstrates investor confidence in Staffordshire as a place for businesses to locate. Most of these sites are full or close to being fully occupied so our investment is seeing great returns.
We will continue to make every effort to attract the right businesses which will deliver better paid jobs for Staffordshire people.”