JCB today announced plans to invest £150m to expand its operations in Staffordshire and create an additional 2,500 jobs by 2018.
The manufacturer revealed the five-year plan, its largest single investment in its history, as chancellor George Osborne was visiting its backhoe loader factory in Rocester, Staffordshire.
The chancellor visited the region after yesterday’s autumn statement, in which he committed government funding to unlock economic growth in Staffordshire with a major road improvement project on the A50 trunk road in Uttoxeter.
JCB chairman Lord Bamford confirmed the five-year investment plans for Staffordshire.
Lord Bamford said: “Our plan to create 2,500 high-quality manufacturing jobs locally is clear evidence of the important link between infrastructure improvement and job creation.
“The chancellor’s announcement of the major A50 road improvement project is good news for businesses in this area.
“It allows companies like JCB to plan ahead with confidence, knowing that the road network will not constrain business growth and future investment.
He added: “The chancellor’s decision to invest in the regional infrastructure means JCB can continue to invest locally.”
The £150m plan includes:
- A new purpose-built 350,000 sq ft factory for JCB Cab Systems in Beamhurst, near Uttoxeter, to replace the current smaller facility in Rugeley. It will also enable JCB to in-source production of cabs currently made by third-party suppliers in Europe.
- Expansion of JCB’s production operations in Rocester with an additional 126,000 sq ft of manufacturing space to increase hydraulic cylinder production.
- A new 220,000 sq ft factory in Cheadle, Staffordshire to expand existing JCB Earthmovers and JCB Compact Products operations, allowing JCB Utility Products to relocate to this site from the current smaller factory elsewhere in the town.
- Relocation of the existing JCB Finance and JCB Insurance offices in Rocester to new office accommodation at nearby Denstone.
- A new in-house training facility for JCB staff, to be run in conjunction with key universities to support apprenticeship and graduate training programmes.
Note: All of the above are subject to planning consent from the relevant local authorities in Staffordshire