Significant progress is being made on the Wrexham and Flintshire Investment Zone, as business FI Real Estate Management (FIREM) invests in growth.
The Investment Zone is a collaborative project expected to attract £1bn of private sector investment and create 6000 new jobs.
It’s backed by £160m in funding from the Welsh Government and UK Government and will focus primarily on advanced manufacturing, with the Investment Zone targeting 5.5 million square feet of new capacity for the sector.
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.
Plans for the Investment Zone recently took a major step forward with the confirmation of its industrial focus and main sites forming part of a recent announcement by the Chancellor Rachel Reeves.
One of these sites is Wrexham Industrial Estate, which houses a wide range of significant businesses and employers, such as JCB.
Three of FIREM’s developments on the estate – Wrexham 1M, Wrexham 152 and Bridgeway Centre – sit within the designated zone.
The firm is significantly expanding its presence on the estate as part of its Wrexham 1M project, comprising one million square feet of logistics space, set to create 1,000 jobs and act as a catalyst for growth in the region. In total, FIREM has invested more than £136m in Wrexham Industrial Estate in the last two decades.
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.
