Firms will now get business rate discounts of up to £55,000 a year under plans to lure more companies to Telford.
Chiefs at Telford & Wrekin Council have approved a raft of incentives for new businesses following the opening of the new Jaguar Land Rover i54 plant. Officials said the borough is ideally placed to benefit from the new plant, which is being constructed just off the M54 motorway.
The i54 plant will create 750 jobs directly and a further 2,200 in its supply chain.
In addition to the borough’s readily available development land, lower house prices and excellent rail and road links, the council is looking at a range of further incentives for new businesses. They include deferring business rates to help start-up firms.
At last night’s cabinet meeting, councillors approved the measures and said it was hoped the move would create more jobs.
Councillor Charles Smith said: “We could make Telford a business-creating council and we would welcome any jobs or investment.”
The council has said there are already many major automotive suppliers based in the borough which could supply Jaguar Land Rover. The borough also has 167 hectares of development land, more commercial land than in any other major West Midlands employment area and much of it is on commercial areas such as Hortonwood or the Nedge.
The council also has an agreement with the Homes & Communities Agency which allows it to offer flexible development packages to help new firms grow.
Training is also being developed involving Telford College of Arts and Technology and the universities of Wolverhampton and Warwick to ensure people have the skills needed.
Conservative leader Councillor Andrew Eade said: “We need to look at our industrial estates in Telford and invest in them.
“We need to make sure they are fit for purpose and they need some investment.”