‘Huge vote of confidence’ in East Midlands as developer revealed for logistics site
MAG (Manchester Airports Group), which owns and operates East Midlands Airport (EMA), has revealed Prologis, the logistics property owner, developer and investor, as its partner to take forward the development of a new industrial logistics and advanced manufacturing park near East Midlands Airport – which could create hundreds of jobs.
The news has this morning (January 29) been hailed as a “huge vote of confidence in the East Midlands” by Chancellor Rachel Reeves as she unveiled her Government’s plan for growth across the UK.
The new park is a designated East Midlands Freeport tax site which, the airport says, will help to unlock £1bn of investment in and around the airport.
The development site, south of the airport, will offer operators the option of various tax and customs relief and simplified import/export procedures.
A planning application for the new park has been submitted to North West Leicestershire District Council, which, if approved, says the airport, will bring up to 2,000 new jobs, £132m of economic growth per year (GVA) to the East Midlands, whilst contributing £9m of additional business rates.
As part of the partnership, Prologis will also build a dedicated centre for logistics job training and education in Leicestershire. The centre will host the Prologis Warehousing and Logistics Training programme.
East Midlands Airport says it is advancing plans to scale its cargo operations to meet rising demands, with Prologis research forecasting double-digit growth in air cargo volumes by 2025 and EMA’s predicted to grow by 54% to 2043 .
EMA’s managing director, Steve Griffiths, said: “I’m delighted to announce Prologis as our global development partner and excited by the prospect of unlocking significant investments in East Midlands Freeport for the region. This is an exciting step forward for growth in and around the airport, as our unrivalled cargo operation continues to act as a catalyst for investment in our region and we look at ways to build on its success.”
Paul Weston, regional head, Prologis UK, said: “Our partnership with MAG aims to realise the full potential of this strategic hub for international logistics.
“Our shared vision is to leverage the Freeport status and central location of EMA to create a high-impact gateway that drives economic growth, innovation and employment opportunities across the Midlands. By bringing our expertise in logistics developments to the table, we are confident that our partnership will unlock significant benefits for both the local community and the broader UK economy.”
Tom Newman-Taylor, CEO of East Midlands Freeport, added: “We welcome this announcement and Prologis’ commitment to East Midlands Freeport and this unique opportunity to drive transformative growth in the region.
“This is a positive first step in realising the full potential of the Freeport’s tax sites which, when fully developed, will be transformative for the East Midlands economy.
“Working collaboratively with all our partners we can realise our ambition of creating 20,000 jobs and unlocking billions of public and private investment into the region.”
