A 10-hectare site being released back to the market at the Hereford Enterprise Zone is expected to attract strong interest from potential investors.
The land was being held for the Get It Group, which has confirmed that plans to bring a Georgian and a Ukrainian aerospace company to Herefordshire would not progress in the foreseeable future.
Enterprise Zone chairman Bill Jackson said although the news from Get It Group was disappointing, positive talks on other investment possibilities with companies in the United States’ defence and security sector were currently under way.
Mr Jackson said: “It is disappointing that we cannot progress this particular investment, despite extensive discussions involving the Zone team, Get It Group, and its partners in Georgia and the Ukraine.
“It is important that companies which invest and create jobs in Herefordshire have sufficient market demand for their products and a review of the business plans by Get It Group found this was not the case. We are confident that we will have strong interest for the land we were holding for the Get It Group once we release that back to the market.”
Ray Stone, of Get It Group Midlands, said: “It has been concluded there is insufficient firm market opportunities in the west to support either of these investments and neither project will now go forward in the foreseeable future.”
“Although this news is disappointing, we believe strongly that Herefordshire is a great place to invest and we’ve been very impressed by the support we’ve received from Herefordshire Council and the Enterprise Zone Board. We are confident that what the county has to offer will ensure successful investment here.”
The Zone team recently launched a new campaign targeting defence and security sector companies in North America and Europe, aiming to attract millions of pounds worth of investment.
Mr Jackson added: “It is early days, but our project with inward investment specialists to target this sector has already seen some positive results. We are also at advanced stages of negotiation with a number of local companies wanting to move onto Skylon Park and will be in a position to announce these agreements in the coming weeks and months.”
