Hydraulic manufacturing company HydraForce will become the first tenant at Birmingham's Advanced Manufacturing Hub. Business law firm DWF advised the developers, First Industrial, in relation to the Development Agreement and construction documentation for the new 120,000 sq ft factory, which should be ready to move into by August 2015 and which will bring with it approximately 280 new jobs by 2018.
HydraForce has just received a £1.8m grant from the government's Regional Growth Fund to enable the company to complete a deal with the landowner, the Homes and Communities Agency (HCA).
The Advanced Manufacturing Hub will be one of six economic zones in Birmingham. The zones – advanced manufacturing, business and professional services, creative and digital media, life sciences, food and drink and IT, electronics and communications – aim to provide growth environments for key sectors. It is hoped these will unlock £1.5bn of investment in the Birmingham and generate almost 50,000 jobs.
First Industrial commented “DWF have been a pleasure to work with on this project. The Property and Construction legals were dealt with seamlessly and we would be pleased to have DWF on another project.”
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