Wrexham Industrial Estate is set to see investment of £115 million to create new industrial accommodation in a move which will deliver an estimated economic value of £1.2 billion and support the creation of more than 1,000 jobs.
FI Real Estate Management (FIREM) already operates across three key sites – Wrexham 1M, Wrexham 152, and Bridgeway Centre. These sit within the Wrexham and Flintshire Investment Zone (IZ).
Earlier this month it was confirmed that the IZ would focus on the area’s strengths in advanced manufacturing. The zone is expected to crowd in £1 billion of private investment over a decade.
Writing for Business News Wales, Gary Hall, special advisor to FIREM, said the IZ presented an opportunity to further develop Wrexham Industrial Estate.
“We have been investing in Wrexham for 20 years, and our long-term strategy means we are committed to the area for the future,” he writes. “We will now be investing £115 million to create new, high-quality industrial accommodation. This will support the creation of more than 1,000 new jobs and deliver an estimated economic value of £1.2 billion in Wrexham over the next decade.”
The IZ is a collaborative project which is set to create 6,000 new jobs. It is backed by £160 million in funding from the Welsh Government and UK Government.
Gary writes:
“Our role as developers is to provide the right space for businesses to thrive. The flexibility of the Investment Zone will help make the area more attractive to new and growing firms, and our approach is to work closely with end users to ensure we meet their specific needs.
“Advanced manufacturing businesses in particular have precise requirements, whether in terms of space, infrastructure, or energy supply. Our model allows us to build bespoke solutions, ensuring the businesses we support can operate efficiently and successfully.”
Welsh Government said there will be a particular emphasis on innovation skills and transport challenges, delivering new opportunities and investment for communities and growing both local and regional economies.
Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, visited the Wrexham 1M site to hear more about FIREM’s ambitions and to see first-hand how the Investment Zone will build on the world-class capabilities of renowned businesses in the region.
She said:
“North East Wales is already home to incredible talent and expertise. Align this with the latest innovation and Government support and we believe the sky is the limit for the region in terms of delivering future economic growth and good-quality jobs.
“This is a hugely exciting time for advanced manufacturing in North Wales and I am encouraged by the progress of the Wrexham and Flintshire Investment Zone and the collaborative efforts of the Corporate Joint Committee, local authorities, both governments and of course businesses in getting to this important stage.
“The Wrexham 1M scheme from FIREM is proposed to be a new tax site and aims to create high-quality industrial accommodation that will help drive job creation and add huge economic value in Wrexham. It’s another vote of confidence in what we are all trying to achieve here.”
Tim Knowles, Managing Director and Founder of FI Real Estate Management, added:
“As a developer that has had operations in Wrexham for almost 20 years, we’re proud to be playing a pivotal role in Wrexham’s transformation into a thriving hub for advanced manufacturing in the UK.
“We have huge belief in the potential of the city and region, and we know that this ambitious mission and the creation of the £160m Investment Zone will enable businesses to flourish, growth sectors to prosper and surrounding communities to benefit.
“Continuing to invest in our flagship developments in Wrexham will spearhead the growth of a globally significant advanced manufacturing cluster for North East Wales over the next decade. We can’t wait to see the positive impact that the Investment Zone will have on Wrexham, as the region competes on a global stage for innovation.”
Ahead of her visit to Wrexham Industrial Estate, Rebecca Evans held a regional engagement event with a broad range of businesses and key stakeholders at Coleg Cambria in Wrexham to help shape focus on areas of economic development for North East Wales.
