Financial News

  • 9 December 2013, 9:32

JCB To Create 2,500 Jobs In 150m Expansion

Construction machinery maker JCB has announced a plan to create 2,500 jobs as part of a 150m investment programme.

The company said it would expand its operations in Staffordshire and create the jobs by 2018.

It estimates that the job boost would add another 7,500 for companies that supply it with goods and services.

The decision was made as Chancellor George Osborne visited its facilities and comes a day after he delivered the Autumn Statement.

Mr Osborne told Sky News: "Investment in the infrastructure here has allowed this company to announce 2,500 jobs, which is all part of an economy that's growing and investing in the things that matter.

"Of course the job is not done yet but we have to stick with that plan."

Mr Osborne has committed Government funding to unlock economic growth in Staffordshire with a major road improvement project on the A50 trunk road in Uttoxeter.

The JCB plan is part of a wider global growth strategy to expand sales and increase market share.

It has already launched new facilities in Brazil, and the 150m JCB project in Britain is the single largest investment in the company's history.

JCB said it will build a 350,000 square-foot factory in Beamhurst to replace a smaller site in Rugeley.

The family-owned company will now build its own vehicle cabs rather than outsource their construction.

JCB said it would also expand its production facilities for hydraulic cylinders at Rocester.

The company is also to build a new factory on the Harewood Industrial Estate in Cheadle, to expand existing earthmoving facilities.

The firm admitted it still required planning permission from the local authorities in Staffordshire.

JCB chairman 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 decision to invest in the regional infrastructure means JCB can continue to invest locally, which is good for Staffordshire and good for Britain, especially given the wider benefits to our UK supply chain."