East Midlands Airport: Landmark project promises 2,000 jobs
East Midlands Airport is set to create 2,000 jobs with its new landmark project, as a development partner is named to bring the vision closer to reality.
East Midlands Airport has named a global development partner to advance plans for an industrial logistics and advanced manufacturing park as part of the region's Freeport, Insider Media reports.
The project is forecast to create 2,000 jobs and help to unlock £1bn of investment in and around the travel hub, with Chancellor Rachel Reeves saying the proposals are a "clear demonstration of the UK's strength as a hub for innovation".
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Prologis, a logistics property owner, developer and investor, has been confirmed as EMA's partner to take forward the proposals, which aim to contribute to a corridor of innovation around Manchester Airports Group's locations across the North, Midlands and South East England in growth-driving sectors including life sciences and advanced manufacturing.
A planning application for the new park has been submitted to North West Leicestershire District Council which, if approved, is expected to bring up to 2,000 jobs, £132m of economic growth per year (GVA) to the East Midlands, while contributing £9m of additional business rates.
EMA's managing director Steve Griffiths said: "I'm delighted to announce Prologis as our global development partner and excited by the prospect of unlocking significant investments in East Midlands Freeport for the region.
"This is an exciting step forward for growth in and around the airport, as our unrivalled cargo operation continues to act as a catalyst for investment in our region and we look at ways to build on its success."
Chancellor of the Exchequer Rachel Reeves said: "This investment in East Midlands Freeport is a clear demonstration of the UK's strength as a hub for innovation, will create thousands of new jobs driving growth in the region and strengthen the UK's position as a leader in advanced manufacturing and logistics.
"Together we are kickstarting our economy, driving growth and getting more money in people's pockets."
As part of the partnership, Prologis will create a dedicated centre for logistics job training and education in Leicestershire. The centre will host the Prologis Warehousing and Logistics Training programme – providing people with the skills and experiences needed to begin and progress their career in logistics.
Paul Weston, regional head, Prologis UK, said: "Our partnership with MAG aims to realise the full potential of this strategic hub for international logistics.
"Our shared vision is to leverage the Freeport status and central location of EMA to create a high-impact gateway that drives economic growth, innovation and employment opportunities across the Midlands.
"By bringing our expertise in logistics developments to the table, we are confident that our partnership will unlock significant benefits for both the local community and the broader UK economy."
The East Midlands Freeport offers strategic development land at three sites – East Midlands Airport and Gateway Industrial Cluster, East Midlands Intermodal Park and the Ratcliffe-on-Soar Power Station redevelopment site.
Its aim is to create tens of thousands of jobs, £9bn of growth and generate more than £1bn in additional taxes that can be reinvested by the Freeport in the region.
Tom Newman-Taylor, chief executive of East Midlands Freeport, added: "We welcome this announcement and Prologis' commitment to East Midlands Freeport and this unique opportunity to drive transformative growth in the region.
“This is a positive first step in realising the full potential of the Freeport's tax sites which, when fully developed, will be transformative for the East Midlands economy.
"Working collaboratively with all our partners we can realise our ambition of creating 20,000 jobs and unlocking billions of public and private investment into the region."