 (L-R) JCB chairman Lord Bamford, JCB Compact Products managing director Jo Bamford and George Osborne |
JCB will invest GBP150 million (USD247 million) to expand its operations in Staffordshire. This is expected to generate 2,500 jobs by 2018.
To mark the announcement last Friday, Chancellor of the Exchequer, George Osborne visited JCB's backhoe loader factory in Rocester. His visit came the day after he delivered his 'autumn statement', in which he committed government funding to unlock economic growth in Staffordshire. His commitment included a major road improvement project on the A50 trunk road in Uttoxeter.
JCB chairman Lord Bamford, who hosted the Chancellor's visit, confirmed the company's five-year investment plans for Staffordshire as part of a wider global growth strategy to boost sales and increase marketshare.
The GBP150 million (USD247 million) investment, which represents the single largest investment in JCB's history, includes:
- A new purpose-built 350,000 sqft. (32,516 sqm) factory for JCB Cab Systems in Beamhurst, near Uttoxeter, to replace the current smaller facility in Rugeley. It will also enable JCB to insource production of cabs currently made by third-party suppliers in Europe.
- Expansion of JCB's production operations in Rocester with an additional 126,000 sqft. (11,706 sqm) of manufacturing space to increase hydraulic cylinder production.
- A brand new, purpose-built 220,000 sqft. (20,439 sqm) factory on the Harewood Industrial Estate 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 in the town.
- Relocation of the existing JCB Finance and JCB Insurance offices in Rocester to new purpose-designed, high-quality office accommodation at Harper Meadow in Denstone.
- A new in-house training facility for JCB staff, to be run in conjunction with key universities, to support apprenticeship and graduate training programs.