Hydraulic manufacturers, HydraForce will build a new factory at Birmingham’s Advanced Manufacturing Hub.
With a £1.8 million grant from the Government’s Regional Growth Fund, the company will begin construction of the 120,000 sq ft factory in September, with the aim to complete the build in 2015.
The move means the company will become the first tenant of the Advanced Manufacturing Hub, one of six economic zones in the city. It’s hoped that these economic zones will bring £1.5 billion of investment and generate 50,000 jobs.
HydraForce managing director, Peter Macdonald, said: “The Advanced Manufacturing Hub is the ideal site for us. It is logistically well-placed.
“The market for our products has grown and broadened. To achieve our ambitious growth plans to double turnover by 2018, we need the new space to install new machinery, research and laboratory facilities, and support.”
Facilitated by the city council and supported by Business Birmingham, HydraForce’s decision to base its growing operation in the area will create local jobs and boost the area’s manufacturing supply chain.
Last year Hydraforce had a turnover of about £49 million. It employs 280 people currently and expects to add another 200 jobs.
Councillor Tahir Ali, Birmingham City Council’s cabinet member for development, transportation and the economy said: “I am delighted that Hydraforce will build its new facility at the Advanced Manufacturing Hub in Aston. It shows that targeting key growth sectors at particular sites continues to deliver new jobs and investment.”