Worcestershire Local Enterprise Partnership Inward Investment

Worcestershire Local Enterprise Partnership has been quick out of the blocks to try and sell the county to investors, according to LEP chairman Peter Pawsey.

It has got a strategy in place and has already been showing prospective parties possible sites.

Mr Pawsey said: “Investment, whether inward or indigenous, is one of the four key planks of our business plan which we are further refining over the next few weeks.

“This is part of our ‘open for business’ philosophy where we are also looking to highlight Worcestershire’s many strengths.”

Mr Pawsey cited a strong and dynamic manufacturing sector reflected by the planned £150 million expansion of Worcester Bosch and the recent £20 million expansion of machine tool maker Yamazaki Mazak. Several others, such as Titan Steel Wheels, Morgan Cars and DRP Group, were recognised as market leaders in their respective fields.

There is also a strong defence sector centred around the continuing to expand Malvern Hills Science Park and one-time government agency QinetiQ.

And a specialism in cyber security is growing fast with a number of businesses ‘spinning off’ from the latter, in and around Malvern.

Worcestershire LEP is developing facilities where newcomers could thrive – the planned new Worcester Technology Park, a 72 hectare development targeting technology rich businesses in low carbon and environmental technologies is projected to produce 5,600 long term jobs and is backed with £17.5 million of Regional Growth Funding.

South Kidderminster Advanced Manufacturing and Business Park would produce 130,000 sq m of floorspace, 3,800 jobs and over £250 million of future direct investment.

In association with UK Trade & Investment, Worcestershire LEP had already shown a number of parties around potential inward investment sites.

The county has great transport links especially via M5, M42 and M50 motorways and these will be enhanced further by the future construction of new rail stations at Worcester Parkway and at Bromsgrove.

Mr Pawsey said: “Worcestershire LEP is a strong and well balanced partnership. Our central objective is to create the right environment to encourage investment from new and existing business, to foster our own success, build on our small number of large industrial companies, develop new industries from medium sized companies with global promise and help them grow.

“We believe Worcestershire has enormous untapped potential for economic growth. We have much to be positive about in our economy and its future prospects.”