A grant agreement has been signed that will create significant job opportunities and new industrial workspace for businesses in Keighley.
A £6.56 million grant from the Keighley Towns Fund has been signed with Modern Equipment & Foundry Engineering, the long term owner of the site, to create up to 7 industrial units, 3,810 sq m of space, on brownfield land at the corner of Dalton Lane, Keighley in a project worth over £12 million in total.
The funding is part of The Towns Fund which is a Government-funded support programme to boost the economies of towns across the UK. The programme is part of the Government’s Levelling Up plan. The scheme has secured £33m for projects in Keighley and the Development Investment Fund is part of this.
The scheme, which will be delivered by Rock Structural PMC, a private developer, will create 80 jobs for the local area once the site is complete plus construction jobs during the build. The scheme will provide renewable sources of energy that will both positively impact Net Zero targets and will also enable occupiers to benefit from competitively priced, relatively cheap sources of energy.
Tom Rock, Director, Rock Structural PMC, and grandson of Modern Equipment Managing Director, Peter Rock, commented: “Our family has a long-established relationship with Keighley and we are delighted that this funding has allowed us to continue investing in the local area. The site and business has been family owned for over 50 years, previously providing services to the heavy engineering sector. This grant support will allow us to undertake a comprehensive redevelopment of the whole site to provide a modern industrial estate.”
Ian Hayfield, Chair of Keighley Towns Fund, said: “This is a fantastic opportunity to bring brownfield land back into use and also bring investment into Keighley town centre. I look forward to seeing it develop and see businesses sign up.”
Cllr Alex Ross-Shaw, Bradford Council’s Executive Member for Transportation, Planning and Highways said: “Keighley has a diverse and well-established manufacturing sector with a quarter of our local workforce employed by it and we know the sector can grow quicker with the correct investment and support. This funding will create space for businesses to invest and expand and create jobs.”