New industrial units in £3million plan for Langage
NEW industrial units are to be built at Langage energy park over the next 18 months.
Plymouth City Council is to invest about £3million on creating new business opportunities.
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The 2011 vision for Langage Energy Park
“We are looking at direct development by the council as private sector development has dried up because commercial bank lending is so restricted,” Cllr Mark Lowry, the Cabinet member for finance, said.
“We will look to invest in new employment units by borrowing at historically low interest rates and using sites we already own.
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“A scheme for mixed-size industrial units is currently under discussion at Langage, where we own the land.
“By creating the right size units we may well attract larger and high-calibre employers who are interested in setting up on a scale of 300 to 500 employees.
“We can work with the investors to ensure that what we build is what they want.
“That will attract new businesses to the city.
“Many businesses outgrow their industrial units and need bigger and more modern space.”
“We will pay for the work by borrowing against future rent. It is financially viable because we own the land and the infrastructure is already there.”
Cllr Lowry said that he hoped the investment would also help to push up Plymouth wages, which are below average.
“We know that a lot of people, as they reach their mid-30s, leave the city to find better-paid employment elsewhere. We want to make better use of people’s academic qualifications and experience.”
The Langage development is part of a strategic property review in the city.
Cllr Lowry said the council was looking at all the land and buildings it owns to see how they could be put to better use.
He added: “We will shortly be bringing forward proposals to start finding a development partner to create 8,000 new jobs and 3,000 new homes in Derriford.”
3 Comments
by soph15
Wednesday, February 27 2013, 11:15AM
“Didn't we once have large industrial units at Estover that have ended up either being demolished or split up into lots of small ones? Years ago we had Murata,Booker,Interlube etc all employing lots of people but one by one they have disappeared.There are so many empty units in many of the Industrial estates now surely the money could be put to better use.”
by timplymouth
Wednesday, February 27 2013, 10:51AM
“It's like they read my mind, I am actually thinking of moving to Exeter.”
by hstmtu4000
Wednesday, February 27 2013, 8:50AM
“Until something significant is done about our dire transport links which continue to favour the Exeter and East Devon economy big time,Plymouth will face an uphill battle just to stand still economically.No significant "quality" inward investor in the 21st century has or is going to bypass Exeter now with its airport,motorway and fast rail links to set up shop in what is in comparison an increasingly isolated Plymouth particularly as transport costs continue to rise.
Quote "We are looking at direct development by the council as private sector development has dried up because commercial bank lending is so restricted," not in Exeter it has not!
Quote "We know that a lot of people, as they reach their mid-30s, leave the city to find better-paid employment elsewhere. We want to make better use of people's academic qualifications and experience." Yes probably to move to Exeter and beyond.
When are the government and our council going to "get real" on this one or has the reality already dawned on our council that Plymouth has simply been set adrift by central government transport wise which is either unable or unwilling to make the necessary transport improvements this far South West in the 21st century.”