Work has begun on a multi-million-pound Enterprise Zone development which is set to create hundreds of jobs in north Staffordshire.
The Chatterley Valley West development in Newcastle-under-Lyme will see major private sector investment, with an additional £3.7million funding through the Kidsgrove Town Deal and a £3.5million investment by Staffordshire County Council which will be paid back through business rates that are wholly retained within the area.
Through the joint funding by both councils, essential roads and infrastructure at the site are now being delivered to pave the way for the development of industrial units. Outline planning permission for the site allows for up to 1.17 million square feet (109,000 sqm) of development.
The brownfield site just off the A500, which could create up to 1,700 jobs, will be one of the biggest business developments in the north of the county in decades. It lies within the Ceramic Valley Enterprise Zone, providing huge benefits to businesses located there and the councils and local enterprise partnership partners.
When the site is fully built out, it could release total business rates of more than £2.5 million a year. Until March 2041 these business rates will be wholly retained in the local area and can be used to help fund further regeneration schemes.
Staffordshire County Council’s deputy leader and cabinet member for economy and skills Philip White said:
Chatterley Valley is providing us with a once-in-a-generation opportunity to unlock a major parcel of disused industrial land, close to strategic transport links. It will enable existing businesses to expand and for new ones to invest in Staffordshire, from across the UK and internationally.
As a key site on the A50/A500 corridor, demand for industrial and logistics space here is expected to be strong.
The county council has a proven track record of working in partnership to successfully develop commercial sites which stimulate job creation and growth across the county. Chatterley Valley West is a huge project and we’re pleased to see work get under way.
Simon Tagg, leader of Newcastle-under-Lyme Borough Council and Board Member of the Stoke-on-Trent and Staffordshire Local Enterprise Partnership, said:
The enhancement of the enterprise zone is great news for Kidsgrove, and the borough as a whole, as it will create hundreds of new jobs and safeguard existing ones in the area. We’re pleased to see work on site begin.
The £3.5million investment from the county council in the Chatterley Valley site, alongside the £3.7million the borough council secured as part of the Kidsgrove Town Deal, shows that we are serious about growing our places and creating opportunities for our residents and businesses.
The positive impact this project will have, in terms of employment and the local economy, is most welcome and it shows that Newcastle-under-Lyme is a fantastic place to do business.
Andrew Blackshaw, chief operating officer at Harworth Group, said:
Our Chatterley Valley development, located in the heart of the Ceramic Valley Enterprise Zone, will meet growing industrial and logistics occupier demand in Staffordshire, supporting new jobs and investment in the area. Drawing on our long track-record and expertise in creating sustainable places where people want to live and work, we look forward to working with local stakeholders to progress this exciting new development.