Thursday, 07 October 2021
Magna’s staff growth underlines Land Deal success
Leading high-tech firm Magna International now employs a 300-strong workforce at its Cosma Casting Plant in Telford following the latest wave of new recruits.
As well as skilled workers, the company is training new employees and has taken on apprentices in areas such as maintenance and tooling – boosting the economy and providing local people with valuable skills and employment.
This latest recruitment drive highlights the continued success of The Land Deal programme and the need for new employees to be part of an exciting business expansion.
Magna’s Cosma Casting plant is set in 20,500m2 on the T54 business park and offers a wide range of opportunities for people looking to work for a high-tech firm which delivers innovative processes and world-class manufacturing.
The £8m inward investment by Magna is the largest deal delivered to date through the Land Deal programme.
Telford & Wrekin Council delivered an update on the achievements of the Deal at its Cabinet meeting on October 7 and Magna’s success is highlighted in the programme’s 2020-21 annual report.
The Land Deal is a partnership between Telford & Wrekin Council, Homes England and the Marches Local Enterprise Partnership (LEP).
During the last six years, the Telford Land Deal has delivered gross land sales of £40.2 million which has enabled the creation of 1726 new jobs and 941 new homes, along with the development of 28 new commercial sites and 20 sites for residential development.
In the 2020-21 financial year alone, sales of 4 commercial sites were agreed along with the creation of 6 residential developments which generated a gross sale income of £8.8m.
David Wright, Telford & Wrekin Council’s Cabinet Member for Economy, Housing, Transport and Infrastructure, said: “Magna International continues to grow and the company’s increasing workforce reflects that growth as there are now well over 300 staff onsite at the Cosma Casting plant.
“This expansion is having a positive impact on the local economy and the company have also demonstrated a commitment to the next generation by taking on a wave of apprentices.
“This is a great example of how the Land Deal has enabled a firm to grow, supply much needed commercial and residential land to the Telford market and invest in the next generation of their workforce.”
The Telford Land Deal has also been instrumental in bringing forward brownfield and underutilised land with a total of 19.4 ha (48 acres) being brought forward for redevelopment to date.
Mandy Thorn MBE, chair of the Marches LEP, said: “Our collaboration with Telford & Wrekin Council and Homes England on the Telford Land Deal is an excellent illustration of the results we can deliver when we work together with our partners for the good of the region.
“The Land Deal is an innovative and unique approach to creating the conditions forward-thinking companies need to invest in Telford & Wrekin.
“We are delighted with the success that Magna International has achieved to date and wish the company a long and prosperous future in the Marches.”
Lucy Blasdale, Development Director for Homes England, said: “Homes England is pleased to be working alongside our public sector partners, Telford & Wrekin Council and the Marches LEP under the Telford Land Deal, an arrangement with the aim of attracting both inward investment and helping grow existing Telford based companies.
“Not only has the Land Deal secured the initial Magna investment and development, it has now seen the further expansion adding to the economic growth of the Borough and creating more, local jobs and Homes England wishes Magna every success with its further growth.”
Magna Cosma Casting UK produces advanced lightweight aluminium structural components using Magna’s vacuum die-casting process.
Ben Goater, General Manager of Cosma Casting UK, said: “This is good news for the local economy.
“We’re not just taking on skilled workers, we’re training people and taking on apprentices. We encourage innovation, involvement and teamwork and want to encourage people to come and work with us.”
You may be interested in:
Monday, 07 August 2023
Second phase of flagship Newport inno...
Morris Property has completed the second phase of Telford & Wrekin Council’s innovative 25-acre agricultural technology park, Ni.PARK, in Newport.
Tuesday, 18 July 2023
New commercial units now available at...
Commercial units on land acquired through the Telford Land Deal are available for businesses to let.
Wednesday, 17 May 2023
Work starts on supported later living...
Construction work on an exciting new supported living development has started at the former Stirchley Leisure Centre site.